CORAM: HONOURABLE MR. JUSTICE HARISH KUMAR ORAL ORDER

25 30-01-2026 The instant Winding up proceeding against the petitioner-company, namely, M/s Nalanda Electrosteel Pvt. Ltd. was initiated by this Court as per the recommendations made u/s 20(1) of Sick Industrial Companies (Special Provisions) Act (SICA), 1985 by the "Board for Industrial and Financial Reconstruction (BIFR)" in the light of the order dated

19.07.2010 passed in BIFR Case No.-216/2002.

2. In view of the aforesaid facts, Company Petition No.-06/2010 instituted on 04.08.2010 in this Court and recommendation of BIFR has been treated as a main petition for winding up. Notices were issued to the Company, the State of Bihar through the Principal Secretary, Industry Department, Bank of Maharashtra, BSFC, BICICO and, as per the service report, the notices were validly served through their respective offices.

3. Thereafter, as directed, vide order dated

16.12.2010, BICICO, a secured creditor made an advertisement in Form-48 as provided under Rule 99 of the Companies (Court) Rules, 1959 in "Hindustan" (Hindi) and "Times of India" (English) inviting applications from any creditor/contributory or other person desirous of supporting