1. This appeal has been preferred by the appellant - Reserve Bank of India being aggrieved with the Order dated 24.11.2017 passed by Single Bench of this Court in Company Petition No. 2/2004 whereby the learned Single Judge has dismissed the petition on the count that petition for winding up under S.45 - MC of the Reserve Bank of India Act, 1934 read with provisions of the Banking Regulation Act, 1956 is not maintainable.

2. The brief facts as reflected from the record are that the appellant / RBI is a statutory regulating authority for Non - Banking Financial Companies (NBFCs) empowered under Chapter III B of the Act (as amended by the Reserve Bank of India (Amendment) Act, 1997) for issuing certificate of registration to NBFCs, prescribing Prudential Norms, issuing Directions, prohibiting NBFCs from accepting deposits, filing winding up petitions etc. The respondent Company has been carrying on the business of receiving deposits under different schemes and was classified by the RBI as a Residuary Non Banking Company (RNBC). The respondent Company has been issued a memo dated 19th December, 1992 advising the company of its classification as a RNBC is required to comply with the R