( 1 ) ADMIT. Service of notice is waived by learned advocate Mr S. N. Soparkar in O. J. Appeal No. 1/2000 and learned advocate Mr Kavina in O. J. Appeal No. 5/2000. In view of the facts and circumstances and at the request of the learned counsels appearing for the parties, both the appeals are ordered to be heard and disposed of finally, by this common judgment. Whether the order of the learned Company Judge, exercising his powers under section 433 (e) admitting and directing for advertisement in a winding up petition, at the instance of the original petitioning Company, Tata Iron and Steel Company Limited, is vulnerable, assailable, unreasonable and unjust or not? is the heart and substratum of this group of two appeals, wherein, common questions are involved against the common order, and upon request, they being disposed of by this common judgment.

( 2 ) OBVIOUSLY, first it would prompt us to articulate and highlight the relevant and important factual aspects which have culminated into this group of two appeals. FACTUAL MATRIX:

( 3 ) THE Tata Iron and Steel Company Limited, by filing Company Petition No. 134/99 for winding up of Micro Forge (India) Ltd. , inter alia