9911796707
TMI Blog2004 (10) TMI 332X X X X Extracts X X X X X X X X Extracts X X X X ..... licant. ORDER 1. This petition is filed for winding up of the respondent- company under sections 433( e ) and 439 of the Companies Act, 1956 on the ground that the respondent-company is indebted and is unable to pay the debts. On 9-3-2000, facts were noted leading to indebtedness of the respondent and prima facie, it was found that the respondent was unable to pay the debts. This petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at between the parties. As per this settlement, the respondent had agreed to pay a total sum of Rs. 45,06,240 out of which a sum of Rs. 6,03,240 was paid as mentioned above. It was further agreed that remaining amount shall be paid in 7 instalments at the end of every four months, starting from 1-10-2000. First six instalments were to be of Rs. 6 lakhs each and 7th instalment of Rs. 3,03,000. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n accordance with the directions contained in the order dated 1-3-2001. 2. There is no opposition to the petition from any quarter. Nobody has appeared on behalf of the respondent-company and/or its ex-directors opposing the prayer for winding up. In view of the aforesaid facts, I am satisfied that the respondent-company is indebted to the appellant and is unable to pay the debits. It would, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
