Helios and Matheson Information Technology Ltd. has appealed against the Winding Up order issued by the single judge of the Madras High Court. The appeal lies before the Division Bench (two judges) of the Madras High Court.
We are informed that a stay order has been obtained. Details will follow.
There was a drive for collecting Rs. 500/- from investors to fund the advertisement costs of the winding up order. As Helios has appealed against the order, the advertisement of the order is currently not necessary.