1998 (7) TMI 556 - HC - Companies Law

Summary

The High Court of Bombay set aside an ex parte order dated 4-4-1997 in a company petition where the petitioner claimed Rs. 2,50,000 from the respondent company. The court granted the application filed by the respondent company as it had deposited Rs. 1,50,000 showing the ability to pay debts, leading to the petition being admitted and not winding up the company under section 433 of the Companies Act. The application was granted with costs. (Case Citation: 1998 (7) TMI 556 - HIGH COURT OF BOMBAY)