Tejinder Singh Dhindsa, J.

M/s. Punjab Tissues Limited i.e. the appellant-Company has preferred the instant appeal under Section 483 of the Companies Act, 1956 against the order dated 14.8.2015 passed by the learned Company Judge in Company Petition No. 11 of 2003 whereby the reference received from the Board of Industrial and Financial Re-construction (BIFR) recommending winding up of the appellant-Company has been accepted and the Company has been ordered to be wound up.

2. The appellant-Company was declared a Sick Industrial Company under Section 3(1)(o) of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter to be referred as "SICA"). A rehabilitation proposal submitted by the Company was taken on record by the BIFR. Vide order dated 18.12.2002, BIFR after having held various meetings/hearings recommended for winding up the appellant-Company under Section 20(1) of SICA. Such recommendation dated 18.12.2002 was forwarded to this Court vide letter dated 7.1.2003, and upon which Company Petition No. 11 of 2003 came to be registered.

3. Vide impugned order, dated 14.8.2015, the appellant-Company has been ordered to be wound up. The Official Liquidator ha