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Issues:
- Petition for winding up a public company with limited liability due to non-payment of debt for royalties and rent. - Company's defense based on alleged apprehension of third-party claim and non-registration of lease. - Legal requirements for a winding-up order, including completeness of title and demand for presently payable debt. - Interpretation of section 53A of the Transfer of Property Act and section 47 of the Registration Act regarding unregistered leases. - Consideration of consent decree, registration requirements, and demands for payment in the context of the petition. Analysis: The judgment pertains to a petition seeking the winding up of a public company for non-payment of a debt amounting to Rs. 72,000 in royalties and rent. The company's defense revolves around the apprehension of a third-party claim and the non-registration of a lease agreement. The court notes that mere apprehension of disturbance in possession does not excuse the company from withholding rent. However, the issue of non-registration of the lease poses a more complex legal question. The delay in registration is attributed to difficulties in the company's title, which impacts the completeness of the petitioner's title required for a winding-up order. The court emphasizes the necessity of a demand for a presently payable debt and rejects reliance on other dues or claims to support the petition. Regarding the interpretation of legal provisions, the court delves into the applicability of section 53A of the Transfer of Property Act and section 47 of the Registration Act concerning unregistered leases. It is opined that a landlord cannot claim under an unregistered lease, and the absence of registration hampers the company's ability to seek rent or royalties. The judgment highlights the importance of completing registration for legal enforceability and dismisses the argument that a claim for rent is permissible under an unregistered lease. Furthermore, the court scrutinizes the implications of a consent decree related to a new lease agreement and the demand for payment under said decree. The absence of demands for payment under the consent decree and the necessity for registration in legal proceedings are underscored. The court emphasizes the importance of clarity in demands for payment and the inability to switch claims in a winding-up petition. Ultimately, the petitioning company is deemed not legally positioned to demand rent, leading to the dismissal of the petition with costs.
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