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TMI Blog2002 (11) TMI 659X X X X Extracts X X X X X X X X Extracts X X X X ..... learned counsel for the parties and having perused the record of the case. I find no case to entertain this company petition and hence, it merits dismissal. 2. It is not in dispute that the respondent-company against whom this company petition is filed for its winding up is declared a sick company under the provisions of the SICA by the Board for Industrial and Financial Reconstruction. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny valuing Rs. 2,53,732.89 on different dates between 1996 and 1997 and raised several bills but the respondent in spite of receipt of the goods did not pay its price and hence, notice under section 434 of the Act was served on the company because it happened to be a company under the Companies Act and followed by this company petition. It was alleged that since the respondent-company has failed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst the company will have to be adjudicated upon as per the procedure prescribed under the Companies Act. It will obviously include the claim of the petitioner, who will then get an opportunity to get their claim proved. In case the order of the BIFR is set aside by the appellate authority (AAIFR) and the matter is remanded for revival of the company as is being contended by the company before the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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