9911796707
TMI Blog2008 (3) TMI 472X X X X Extracts X X X X X X X X Extracts X X X X ..... from the sale of the assets of the company and amount paid to the workers till this date. - COMPANY PETITION NO. 97 OF 2007 - - - Dated:- 17-3-2008 - K.A. PUJ, J. Ms. Kiran Chopra and Sudhir M. Mehta for the Petitioner. Raju K. Kothari for the Respondent. JUDGMENT (ORAL JUDGMENT) K.A. Puj, J. The petitioner has filed this petition under sections 433 and 434 of the Companies Act, 1956, for winding up of the respondent-company on the ground that the respondent-company has failed to discharge its liabilities towards its creditors including the petitioner. This court has issued notice on May 4, 2007. Notice was duly served on the respondent-company. Mr. Raju K. Kothari, learned advocate appears for the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oor Sangh dated October 12, 2007, wherein it is stated that the Union has filed Special Civil Application No. 2666 of 2005 praying for quashing and setting aside the impugned possession notice as well as the notice for sale dated January 15, 2005 and February 19, 2005, collectively and praying for the directions to respondents Nos. 1 and 2 banks to explore the means of taking over the management of the company. The said petition was disposed of by this court vide its order dated May 10, 2005, directing the said banks to set apart Rs. 5 crores out of the sale proceeds in a separate account. The said amount was to be set apart without prejudice to the rights and contentions of the parties. Bank of India being respondent No. 1 in the said pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tum and failed to discharge its liabilities towards the creditors, the companies is hereby ordered to be wound up. The official liquidator attached to this court is appointed as the liquidator of the company. He is directed to take charge of the assets, if any, of the company in liquidation. He is further directed to call for the details from the secured creditors, more particularly, from Bank of India and Dena Bank with regard to the amount realized from the sale of the assets of the company and amount paid to the workers till this date. The official liquidator is further directed to go through the proceedings of Special Civil Application No. 2666 of 2005 and Special Civil Application No. 9821 of 2006 and the orders passed therein. After c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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