ORDER :

Sanjay Yadav, J.

1. This appeal under Section 483 of the Companies Act takes exception to order dated 05.11.2004 passed in Company Case No.4/1997 whereby an application preferred by the appellant, State of Madhya Pradesh through its Commerce and Industries Department claiming title over several parcels of land leased out by erstwhile Gwalior State to the Jiyajeerao Cotton Mills Ltd. Birla Nagar, Gwalior / M/s Birla Brothers has been negatived.

2. Relevant facts leading to the controversy are that M/s Jiyajeerao Cotton Mills Ltd (for short “J.C. Mills”) a company registered under the Companies Act moved an application under Section 439 of he Companies Act, 1956 (in short Companies Act) for winding up of the company in view of the opinion expressed by Board for Industrial and Financial Reconstruction recorded in its proceedings dated 23.01.1995 as the company was unable to pay its dues.

3. In the winding up proceedings the State of Madhya Pradesh through the Officer-in-charge moved an application on 19.12.1997 pointing out that the land on which the J.C. Mills and its other buildings are situated belongs to the State of Madhya Pradesh being successor of erstwhile Gwalior State wh