Company Appeal No.18 of 2011 -1- *** IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Company Appeal No.18 of 2011(O&M) Date of decision: 24.5.2011 Navjeet Singh Walia ...Appellant Versus The Azad Nakodar Bus Service Private Limited ...Respondent CORAM: HON'BLE MR.JUSTICE ADARSH KUMAR GOEL, ACTING CHIEF JUSTICE HON'BLE MR.JUSTICE AJAY KUMAR MITTAL Present: Mr. V.K.Sachdeva, Advocate for the appellant. ADARSH KUMAR GOEL, ACJ. 1. This appeal has been preferred against the order of learned Company Judge declining to wind up the company at the instance of the appellant. 2. Winding up was sought under the 'just and equitable' clause only on the ground that company sold its assets. Learned Company Judge found that mere sale of assets could not be a ground to invoke 'just and equitable' clause in the facts and circumstances of the case. 3. We have heard learned counsel for the appellant. 4. It is undisputed that the appellant has only 34 shares of Rs.100/- each. No valid justification has been shown for invocation of 'just and equitable' clause as rightly held by learned Company Company Appeal No.18 of 2011 -2- *** Judge. We, thus, do not find any ground to interfere with the impugned order. 5. Learned counsel for the appellant states that he may take other remedies as provided under the law. We do not express any view on the remedies of the appellant. The appeal is dismissed. (Adarsh Kumar Goel) Acting Chief Justice May 24, 2011 (Ajay Kumar Mittal) Pka Judge