Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

1998 (1) TMI 396

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ank of India (Petitioner in short) has prayed for the winding up of the company Metalfabs India (P.) Ltd., having its registered office at Barnawa Road, near City Railway Station, Meerut, on the ground that the said company was unable to pay its debts and, therefore, the same should be wound up. 2. The relevant facts in brief are that on the request of the respondent-company, the petitioner ha .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in which the said respondent has admitted the outstandings as on 22-6-1979 at Rs. 54.84 lakhs. 3. On notice being served, the company had put in appearance and filed a counter affidavit but the debt was not seriously disputed. The petition remained pending in this Court for several years and ultimately the same was listed for hearing before me on 9-5-1997 on which date a statement was made by .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed as Annexure-3 to the petition. In the counter affidavit also the debt has not been disputed. Apart from the same, as stated by the learned counsel, the company is lying closed for the last over ten years and the two directors who had also been impleaded as respondents are dead. Under the circum-stances, it will be of no use to keep this company alive and to continue it to remain recorded before .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates