Aggarwal, J. -- 1. This appeal under section 483 of the Companies Act, 1956 filed by the appellants is directed against the order of the learned Company Judge dated 13th September, 2010 in M.C.C. No.63 of 2010 whereby the company petition of the respondents (C.P. No.2/88) dismissed in default for non-prosecution vide Court's order dated 7th September, 2005 read along with the order of the Registrar dated 28th June, 2006, has been restored for hearing on merits after condoning the delay of 1309 days in filing of the restoration application.

2. Briefly stated the facts of the case giving rise to this appeal are that appellant No.1 Company "M/s. Bhaskar Publication and Allied Industries Private Limited" is a company incorporated under the Companies Act, 1956 and is stated to be engaged in the business of publication of a newspaper "Dainik Bhaskar" situated at Gwalior. The respondents along with Bishambhar Dayal Agrawal (dead), Dwarka Prasad Agrawal (dead) and appellants No.2, 3 and 5 were stated to the Directors of the appellant company at the time the respondents had filed company petition (C.P.No.2/1988) against the appellants under sections 397, 398, 402 and 403 of th