1. By this order, the Company Application No.184/2015 filed in Co.P.No.154/2002 between Government of Karnataka vs. NGEF Ltd., (in liquidation) is being disposed of.

2. The said application has been filed by the State Government under the provisions of Section 466 of the Companies Act, 1956 r/w Rules 6 and 9 of the Companies (Court) Rules, 1959, seeking the recall of the Winding Up order dated 03.08.2004 passed by this Court, on the recommendation of BIFR dated 02.08.2002 under Section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985.

3. It has been stated in the said Company Application No.184/2015 that the State Government has 90.28% shareholding of the Respondent Company-NGEF Ltd., and the only other shareholder is M/s. Allgemeine Elektricitats - Gesellschaft Aktiengesellschaft, now known as ‘EHG Elektoholding GmbH (EHG) (‘German Company’ for short) which held 9.72% of its shareholding.

4. The reasons stated in the said application and as canvassed before this Court by Mr. K.G. Raghavan, learned senior counsel appearing for the applicant-State of Karnataka are that after passing of the said winding up order on 03.08.2004, in the process of winding up, up