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(b) The items manufactured by the company are not found in the Industries (Development and Regulations) Act, 1951.

2. In view of above, your reference is hereby declined."

4. We note from the writ petition that during the period when the reference of the petitioner under the SICA was pending, an unsecured creditor i.e. the Bank of New York and Mellon, London Branch filed a winding up petition against the petitioner for recovering their dues before the High Court at Bombay. The said Company Petition being 28/2012 for winding up of the petitioner company was admitted by the learned Single Judge on 30.07.2013, when an Administrator was also appointed. The order dated 30.07.2013 was challenged by the petitioner company before a Division Bench of the High court at Bombay by filing an Appeal (L) No. 344/2013. The appeal was dismissed by the Division Bench vide its order dated September 02, 2013. The Company Petition No. 28/2012 was finally decided by a learned Single Judge vide his order dated December 13, 2013 whereby learned Single Judge has allowed the petition and directed the petitioner to be wounded up. The Official Liquidator , High Court at Bombay was appointed the Liquidator of the company. The judgment dated December 13, 2013 in Company Petition No. 28/2012 was challenged by the petitioner in Appeal (L) No. 14/2014. Suffice to state that the appeal was also dismissed by the Division Bench. However, the winding up order was stayed up to and including 31.08.2014 in order to facilitate the possible sale of the Cloud computing business of the petitioner company.

"1. General Information The company is Software Company engaged in the manufacture, distribution, marketing, sale of software products and IT services. The Company's product line is in the private cloud computing and cloud based back up and disaster recovery market and is covered by the TigerCloud and BDR product line of the Company. The Company does not have any secured loans. The Company's overseas investments have been in its subsidiary Companies in Singapore and UAE".