9911796707
TMI Blog2007 (8) TMI 458X X X X Extracts X X X X X X X X Extracts X X X X ..... within a period of three weeks from the date of intimation by the company to the petitioners that security in terms of this order has been furnished. In default of the security being furnished within the time permitted, the petition will be advertised once in the Statesman and once in the Ajkal. Publication in the Official Gazette will stand dispensed with. The advertisements will indicate that the matter will be returnable on the next available Court day four weeks after the publication. In the event the petitioners fail to file the suit within the time permitted after receipt of information of security having been furnished, the company will have liberty to obtain discharge of the security. - CP NO. 347 OF 2006 - - - Dated:- 22-8-2007 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25,000 each in cash from Smt. Mina Devi Agarwal and Smt. Kalpana Agarwal on 7-4-2000 . At present due to development work in the Nursing Home, our company is not in the condition to repay the loan amount with interest. So our company hereby request you to further extend time to repay the said loan amount with interest within 3 (three) years from the date of this letter of acknowledgment of debt of our company ." 3. The petitioners also rely on cheques for Rs. 6,11,234 and Rs. 10,07,700 said to have been issued by the Company on 1-3-2003 and 3-3-2003 and bearing the same signatures as appearing on the letter of 10-10-2000. The writing of the date, payee and figures in both the cheques appear to be in the same hand and it is the peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n which they claim the loans were made and in Paragraphs ( viii ) and ( x ), the petitioners referred to the letters of 10-3-2000 and 9-9-2003. The petitioners also referred to special general meetings of the Company having been held on 7-10-2000 and 10-9-2003 pursuant to which the two letters were allegedly issued by the company. The cheques said to have been issued by the Company were also mentioned in the statutory notice. 7. In the written response of 14-7-2006 the Company denied the petitioner s claim and alleged that the petitioners had been allotted shares of and in the Company against applications that the petitioners had made and the petitioner was aware of the allotments. It was asserted by the Company that by the year 2001 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to rely on documents that it claims it filed without obtaining authenticated copies thereof from the Registrar s records. But even if the returns and statutory forms relied upon by the Company are taken at face value, it does not appear that such documents can fasten the petitioners with knowledge of having become shareholders of the Company, particularly in the absence of the company otherwise being able to establish such allegation. According to the Company, it issued some letters to the petitioners, requiring the petitioners to claim their share certificates. Again, the Company has not been able to establish that such letters were issued to or received by the petitioners or any of them. 10. In the body of the Company s affidavit, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... securities and documents. Such miscellaneous application arises out of C.R. Case No. 573 of 2006 and the valuable documents referred to in such application are the two cheques relied upon by the petitioners in these proceedings. It is also a matter of some significance that such criminal complaint was lodged after the winding up proceedings were instituted and after the company obtained directions for filing its affidavit herein. 12. The company had a chance, upon the petitioners assertion in the statutory notice, to explain in its response of 14-7-2006 as to how the letters of 10-10-2000 and 15-9-2003 came to be. The company s sparse and inadequate denial is found in the relevant part of the response quoted above. The company next ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioners claim, but at 12 per cent per annum reckoned from the second of the two letters which appear to have been issued by the company on 15-9-2003 within a period of three weeks from date. 15. The petition is admitted for the sum of Rs. 6,05,000 together with interest at the rate of 12 per cent per annum from 15-9-2003. If the company furnishes security of the entire sum, inclusive of interest, upto the date of furnishing of security, in favour of the Registrar, Original Side, the petition will remain permanently stayed and the claim of the petitioning-creditors will stand relegated to a suit. In such event, the security will be held to the credit of the suit in the event such suit is instituted within a period of three weeks from th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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