JUDGMENT :

S.R. Brahmbhatt, J.

Heard learned counsel for the parties.

2. The petitioner by way of this petition filed under Sections 433(e), 434(1)(c) and 439(1)(b) of the Companies Act, 1956, approached this Court with following prayers;

a. The Respondent Company viz., M/s. ORG Infomatics Limited, a Company incorporated under the Companies Act, 1956 and having its Registered Office at 3rd Floor, Abhishek Complex, Akshar Chowk, Old Padra Road, Vadodara - 390 021 be would up by and under the directions of this Hon'ble Court under the provisions of the Companies Act, 1956;

b. The Official Liquidator attached to this Hon'ble Court be appointed as Liquidator of the Company viz., M/s. ORG Informatics Limited, with all powers under the Companies Act, 1956 including the power to take charge of all the assets, papers, vouchers and bank account of the Company.

c. That pending the hearing and final disposal of this Petition, the Official Liquidator attached to this Hon'ble Court be appointed Provisional Liquidator of the Company viz., M/s. ORG Informatics Limited, with all powers under the Companies Act, 1956;

d. That pending the hearing and final disposal of the Petition, the Company by itself, its Directors, servants and agents be restrained by an Order and injunction of this Hon'ble Court from dealing with, disposing off, alienating, encumbering or parting with possession, or from creating any third party rights in respect of the whole or any part of the assets of the Company or any part thereof in any manner whatsoever;

e. Ad interim reliefs in terms of prayer (c) and (d) above;

f. For costs of the Petition.

g. For such further and other reliefs as the nature and circumstances of the case may require.

3. The respondent is a Company incorporated under the Companies Act, 1956 having objects as mentioned in the petition. The petitioner has averred in the memo of the petition that petitioner being service provider in the telecom sector is well recognised through the world as such. The petitioner Company contacted by the respondent Company for supply of Internet Policy Server Software for block websites as per DOT regulation for the BSNL Broadband Multi-play Project (hereinafter referred to as 'the BBMP' for the sake of convenience), undertaken in Singapore in the month of April, 2007. The petitioner received purchase order and raised invoice for the amount of US$ 1,341,893.00 for Application Software License Fee and Service (Installation and Training) cost. Out of total amount of US$ 1,341,893.00, the respondent Company made payment of US$ 889,350.00 as on 23.08.2007. The Annexure-C is the statement of outstanding amount of US$ 452,543.00, which is dated 03.12.2007. Despite repeated requests and reminders, the balance payment did not come forward. The respondent Company on account of its own financial constrains had requested the petitioner Company to accept the amount due from another Company for which the requisite resolutions came to be passed on 30.01.2009 and thereafter the amount was to be collected from another Company called M/s. Spanco Singapore Pte. Limited (for short 'M/s. Pte. Ltd.') The further Board Resolution came to be passed on 11.03.2010, authorising the petitioner to collect an amount of US$ 80,947.65 out of the total outstanding debt of US$ 452,843.00 from M/s. Pte. Ltd. The copy of the said resolution is at Annexure-E. The petitioner in pursuance thereof received an amount of US$ 80,948.00 straight from M/s. Pte. Ltd. on 11.03.2010, which it received on behalf of the respondent Company. The balance payment was covered by one more Board Resolution dated 03.09.2011, authorising M/s. Pte. Ltd, to make payment of US$ 371,019.00 by the respondent Company to the petitioner. That resolution is figuring at Annexure-F. The petitioner perceived that said M/s. Pte. Ltd. through various e-mails namely; 5th July, 2011, 8th July, 2011, 10th July, 2011 and 26th July, 2011, which are placed on record as the said communication did not yield a