RAVI R. TRIPATHI, J. ( 1 ) ). PURSUANT to the order dated 15th February, 2002, the Director, Mr. Yashpal Shah, of M/s. Pal Papers Pvt. Ltd. , has filed an affidavit stating that an advertisement was published in English Daily, "indian Express", Baroda Edition, and in Gujarati Daily, "jansatta", Baroda Edition. Along with the affidavit, paper cutting is annexed. ( 2 ) ). DESPITE publication of the advertisement in the newspaper on 12th April, 2002, the respondent-Company has not caused any appearance before this Court. Having gone through the averments made in the petition, it is clear that the respondent-Company is unable to pay its debt. Considering the financial condition of the respondent-Company, it is not in a position to clear its current liability and, therefore, it is just, equitable and in public interest that the respondent-Company should be wound up. In view of this, following order is passed: (I) The respondent-Company, M/s. Corruplast Packaging Private Limited, is ordered to be wound up. The Official Liquidator attached to this Court is ordered to be appointed as an Official Liquidator of the said respondent-Company and he is directed to take charge of the assets of the Company and to conduct its affairs in the course of the winding up and to distribute its assets in accordance with law. Till the Official Liquidator takes charge of the affairs of the respondent-Company, the respondent-Company is restrained in any manner dealing with, disposing of, parting with possession, or creating any third party rights or interest of the assets of the Company. (II) The petitioner-Company is directed to publish a formal advertisement of this order of winding up in two dailies, namely, Indian Express and Jansatta, both of Baroda Edition. This order of winding up of the respondent-Company shall also be published in the Official Gazette. (III) This petition is disposed of accordingly with no order as to costs. Rule is made absolute to the aforesaid extent only. .