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Issues involved: Petition for winding up a company u/s inability to pay debts.
Details of the judgment: 1. The petitioner claimed a sum of over &8377; 15,00,000/- along with interest from the respondent for goods sold and delivered. The respondent confirmed the balance but failed to repay, leading to the petition for winding up. 2. The absence of an affidavit in reply and the respondent's absence during the admission of the petition supported the decision to make the Company Petition absolute. 3. The Company Petition was made absolute, ordering the winding up of the respondent company u/s Companies Act, 1956, and appointing an official liquidator or another suitable person as the liquidator. 4. The petitioner was granted costs of &8377; 10,000/- to be recovered in the winding up proceedings. 5. The Company Petition was disposed of as per the above terms.
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