( 1 ) IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.435 OF 2007 APPEAL NO.435 OF 2007 APPEAL NO.435 OF 2007 IN IN IN COMPANY PETITION NO.726 OF 2006 Reliance Infocom Infrastructure Pvt.Ltd... Appellant V/s Madhuban Merchandise Pvt.Ltd. .. Respondent Mr.E.P.Bharucha, Sr.Advocate alongwith Ms.Bhavna Singh i/by M/s.Mulla & Mulla for the Appellant. Mr.I.Chagla, Sr.Advocate alongwith Mr.Milind Sathe and Mr.A.S.Doctor i/by M/s.Junnarkar & Associates for Respondent. CORAM : DR.S.RADHAKRISHNAN, & CORAM : DR.S.RADHAKRISHNAN, & CORAM : DR.S.RADHAKRISHNAN, & ANOOP V.MOHTA, JJ. ANOOP V.MOHTA, JJ. ANOOP V.MOHTA, JJ. DATE : 8th February, 2008. DATE : 8th February, 2008. DATE : 8th February, 2008. P.C.: P.C.: P.C.: 1. Heard the learned senior Counsel appearing for the parties. By this Appeal, the Appellant Company is challenging an order of the learned Single Judge dated 23.3.2007 whereby the learned Single Judge by a very detailed order found no substance in the petition filed by the Petitioner (Appellant herein) for winding up of the Company. 2. Perused the affidavit dated 27.2.2007 filed on behalf of the Madhuban Merchandise Private Limited, wherein, the paragraph Nos.4(e), 4(f) and 4(g) read as under:- "4(e) The Petitioner Company belongs to Anil D.Ambani Gruop." "4(f) The Company held 2,43,50,000 equity shares of ( 2 ) Reliance Industries Ltd. On demerger of Reliance of Industries Ltd. the Company was issued 2,43,50,000 equity shars of each of the four Resulting Companies which went to Anil D.Ambani Group. These shares were transferred on or about 6th February, 2006 by persons who were nominees of Anil D.Ambani Group to companies/entities of Anil D.Ambani Group such that 3,50,000 equity shares and 2,40,00,000 equity shares of each of the four Resulting Companies (viz.Reliance Energy Ventures Limited, Reliance Capital Ventures Limited, Reliance Communication Ventures Limited and Reliance Natural Resources Limited) were transferred to Anadha Enterprises Pvt.Ltd. and Bhavan Mercantile Pvt.Ltd.respectively." "4(g) The above shares of which market value was approximately Rs.900 crores at that time were transferred by the Company to the aforesaid entities from Petitioner Group without any consideration as a part of the overall settlement including establishing the fact that there was no debt due by the Company to the Petitioners." 3. Mr.Bharucha, the learned Senior Counsel for the Appellant on instructions from the responsible officer of Anil Dhirubhai Ambani Group Companies categorically states that Anadha Enterprieses Pvt.Ltd. and Bhavan Mercantile Pvt.Ltd. belongs to Anil Dhirubhai Ambani Group. If that be so, there is absolutely no merit in this Appeal. Appeal stands dismissed. (ANOOP V.MOHTA, J.) (DR.S.RADHAKRISHNAN, J.) (ANOOP V.MOHTA, J.) (DR.S.RADHAKRISHNAN, J.) (ANOOP V.MOHTA, J.) (DR.S.RADHAKRISHNAN, J.)