JUDGMENT - Dr. B.P. SARAF, J.:---This appeal is directed against the order of the learned Single Judge dated 18th October, 1996 on the company petition filed by the respondents for winding up of the appellant company, by which the learned Single Judge appointed the Official Liquidator as the provisional liquidator of the appellant company. When this appeal came up for admission on 4th November 1996, it was contended before us on behalf of the appellant company that its financial condition was quite sound and the interest of the unsecured creditors was fully secured. It was submitted that failure of the appellant company to pay its creditors in time was only because of temporary liquidity crunch and for no other reason. We were told that the appellant company was in a position to pay all its unsecured creditors. Time was sought till 2nd December 1996 to submit a scheme for paying the unsecured creditors. In view of these submissions of the appellant company, the hearing of this appeal for admission was adjourned till 9th December 1996 with a direction to the appellant company not to incur any fresh liability in the meantime. It was further adjourned to 18th December, 1996. Finally

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