( 1 ) THIS Company appeal arises out of the order of the leamrd Single Judge dated 19th December, 1973, whereby the learned Judge dismissed the appellant s appeal upholding the order of the learned District Judge acting as Company Judge at the relevant time.

( 2 ) A petition under Section 153-A (1) (f) of the Indian Companies Act, 1913 read with Section 647 of the Companies Act, 1955 was presented before the District Judge Delhi for realisation of arrears of income-tax and business profits tax which had become due from M/s Dalmia Jain Airways Ltd. , respondent no. 2, for the assessment years 1948-49 to 1953-54. M/s Dalmia Jain Airways Ltd. was amalgamated by the order dated February 10, 1953 and by a subsequent order dated February 13, 1953, the District Judge had directed that the whole property of the transferor company i. e. M/s Dalmia Jain Airways Ltd. shall stand transferred and vest in the transferee company, namely, M/s Asia Udyog Pvt. Ltd. It was also directed that all the liabilities of the transferor company, by virtue of the order, becomes the liability of the transferee company. The learned District Judge, on the appellant s petition, framed issues. Th