( 1 ). RESERVE Bank of India (RBI), as the petitioner, filed C. P. 191/97 under section 45 MC l (d) of the RESERVE BANK OF INDIA ACT, 1934 for winding up of crb Capital Markets Ltd (hereinafter called the company ). Along with this petition, RBI also moved CA. 552/97 for appointment of the provisional Liquidator under Section 450 of the Companies Act, 1956. This petition came up for hearing on 22. 5. 1997 when the Court appointed the Official Liquidator attached to this Court as the Provisional Liquidator with direction to him to take into control and custody all the assets, properties and books of accounts of the company. Since then the Official liquidator is controlling the affairs of the company. However, it may also be mentioned at this stage that the ex-Director of the company has submitted the application for revival of the company in which orders were passed on 22. 3. 2002 directing to convene meetings of secured creditors, unsecured creditors and share holders. The proceedings in the company petition are going on. The Scheme for Revival has not yet been approved. However, many creditors have come forward who have lodged their claims.

( 2 ). The applicant i