2004 (7) TMI 376

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..... lis between the landlords and the tenant. Petitioners are the landlords and the respondent is the tenant. 2. The petition averments indicate that the tenant had violated certain terms of the agreement and in respect of such violations had put- forth certain claims in the nature of damages. The respondent-company having not complied with the demand of the petitioners to pay such amounts the .....

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..... ed to be wound up. Learned Counsel has relied upon a decision rendered in (1973 Vol. 43 Company Court cases 63) in support of his submission. 5. There cannot be any two opinions about the legal position. A fiction is created in law by the provisions of section 434 of the Act for the default on the part of the company to whom a notice had been issued and who has failed to make payment of the am .....

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..... am not even satisfied that the respondent-company owes the petitioners a determined or definite amount. 7. In the circumstances, I am of the view that this is not a fit case at all for purposes of entertaining a petition to wind-up the affairs of the respondent-company. It is open to the petitioners to work out their remedies in any other manner provided in law. Reserving such liberty, this pe .....

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