9911796707
TMI Blog1995 (1) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... JUDGMENT N.K. Sodhi, J. This is a creditor's petition filed under sections 433, 434 and 439 of the Companies Act, 1956, for the winding up of Deol Agro Oil Ltd., Sector 17-E, Chandigarh (for short, "the company"), on the ground that it is unable to pay its debts. Petitioners Nos. 1 to 14 paid to the company sum of Rs. 20, 000 each for the purchase of its shares and these amounts were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... money back from the company. When it was not paid they served a statutory notice under section 434 of the Companies Act in July 1994. The company did not send any reply to the notice and hence, this petition was filed in August, 1994. It is not in dispute that during the pendency of this petition the company returned the share application money to petitioners. Nos. 1 to 16 on October 11, 1994. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the company have fallen out and the present petition is the outcome of that dispute between the two groups. I, there-fore, hold that the company is not liable to pay any interest on the share application money which has since been returned to the petitioners. As regards the claim of petitioner No. 17, Mr. Narang on behalf of the company stated that the amount of Rs. 8,000 will be paid to hi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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