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Winding up of a company under section 433(b), (c), and (f) of the Companies Act, 1956. Analysis: The judgment pertains to a company petition concerning the winding up of a respondent-company under section 433(b), (c), and (f) of the Companies Act, 1956. The respondent-company, Country Informtech Services (P.) Ltd., was incorporated as a private limited company with the objective of managing computer training centers and data processing. However, it failed to file balance sheets, leading to uncertainty regarding its financial position. The company also faced allegations of non-payment to investors and absconding directors. Subsequently, an investigation by the CBI revealed serious allegations against the directors for cheating investors, banks, and financial institutions through illegal means. The CBI recommended taking action under the Companies Act to seize company assets and appoint a custodian/receiver/liquidator. Additionally, banks and financial institutions were contemplating filing cases before the Debt Recovery Tribunal, potentially involving substantial amounts exceeding Rs. 10 lakhs in each case. The Regional Director of the Department of Company Affairs issued a show-cause notice to the respondent-company under section 433(f) read with section 439(e) of the Act for winding up the company. Despite an unsatisfactory reply from the respondent-company, the Regional Director sanctioned the filing of a winding-up petition. The court, after considering the investigation by the CBI, notices from the Department of Company Affairs, and the absence of objections to the published notices, concluded that the respondent-company was liable to be wound up under section 433(b), (c), and (f) of the Companies Act, 1956. Consequently, the company petition was allowed, and the respondent-company was directed to be wound up. The Official Liquidator, previously appointed as the provisional liquidator, was now designated as the liquidator of the company under section 449 of the Act.
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