R. Subbiah, J.

1. Challenge is made to the order of a learned single Judge of this Court dated 02.09.2008 made in Company Petition No.158 of 2002, whereby the company petition filed by the respondent against the appellant herein was admitted and notice was ordered to the appellant and the Provisional Liquidator was also appointed.

2. The facts, which led to the filing of this appeal, are as follows:

The respondent company is a Gujarat Government Undertaking company, engaged in, inter alia, extending industrial finance in the form of term loan, corporate loan etc. to various industrial enterprises within the private section of industry in the State of Gujarat. The respondent company, a public limited company, was engaged in capital market operations, investment banking and asset financing. The appellant had approached the respondent to rediscount bills and make advances against the security etc., and the respondent had accepted the request of the appellant and accordingly, sanctioned the bill re-discounting facility vide its letter dated 08.07.1996. For the said purpose, the appellant company entered into an agreement with the respondent company and executed an agreement dat