D.R. DHANUKA, J.:---This is an application for appointment for Provisional Liquidator of 1st respondent pending the hearing and final disposal of petition for winding up of the 1st respondent Company. Some of the facts emerging from the record disclose shocking state of affairs and prove at least prima facie that the 2nd respondent and members of his Group have indulged in various acts of manipulation amounting to subterfuge, fraud and acts purporting to jeopardise the assets of the Company and lack of probity. The respondent No. 2, respondent Nos. 5 and 8 have purported to appropriate the valuable assets of the Company to themselves personally and caused serious prejudice to the Company and minority Shareholders as would be obvious from the later part of this order. This is my strong prima facie finding for purpose of this application.

2. On 18th March 1980, the respondent No. 1 Company (formerly known as "Gitaneel Hotels and Investments Pvt. Ltd.) was incorporated as a Private Limited Company under the provisions of the Companies Act (I of 1956). On 9th April 1980, the Certificate of Incorporation was issued by the Registrar of Companies, The authorised capital of the Comp