1. This judgment shall dispose of C. A. No.123 of 1987 in C. P. No.125 of 1986, C. P. No.24 of 1987, C. A. No.24 of 1987 in C. P. No.56 of 1982 and C. A. No.189 of 1987 in C. P. No.125 of 1986. All these applications and petitions have been filed either for recall or modification of the order dated December 11, 1986, passed by G. C. Mital J. in C. P. No.125 of 1986. Therefore, I have considered it convenient to dispose of them by one and the same judgment.

2. It is necessary first to notice the facts in brief. Prem Singh and other shareholders of the National Transports and General Co. (P.) Ltd. (B group), Ludhiana (for short "the company"), filed C. P. No.236 of 1980 under Sections 397 and 398 of the Companies Act, 1956 (for short "the Act"), for relief on the ground that the affairs of the company were being conducted in a manner which is prejudicial to the public interest and the petitioners therein and the company. They complained that the affairs of the company were being mismanaged. During the pendency of the same, C. P. No.56 of 1982 was filed on July 27, 1982, by Pritam Singh and ten other creditors of the company under Sec.433 of the Act for winding up the company