PHATU ROCHIRAM MULCHANDANI vs KAR.INDUSL.AREA DEVT.BOARD .

The Supreme Court addressed the issue of locus standi in the context of a winding-up order against M/s. Relectronics Ltd. under the Companies Act, 1956. The Court held that the appellant, Phatu Rochiram Mulchandani, lacked the standing to challenge the release of leased land back to the Karnataka Industrial Areas Development Board, as the appeal was dismissed on the grounds of lack of locus standi. The Court emphasized that only parties with a direct interest in the property can contest such orders, affirming the High Court's decision.