9911796707
TMI Blog2011 (4) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... 011 is filed. Thereafter also there is no willingness on the part of the respondent Company to pay the dues. It appears that the Company is unable to perform its functions under the provisions of the Companies Act, 1956 since it has lost its sub-stratum and accordingly, it is ordered to be wound up - COMPANY PETITION NO. 33 OF 2009 - - - Dated:- 4-4-2011 - ANANT S. DAVE, J. Sudhir M. Me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner states and submits that on the basis of the appropriation/adjustment of the amounts, the total amount due and payable by the Company as on 21-1-2009 is Rs. 1,03,51,613 [Principal Amount of Rs. 1,00,00,000 and total interest amount of Rs. 2,51,613 from 30-11-2008 to 21-1-2009] and further interest from 22-1-2009 to till payment and statutory notice under section 434(1)( a ) dated 24-12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of the petition, the respondent, its servants and agents be restrained from disposing, alienating, encumbering, transferring and creating third party rights over the assets and properties of the Company. 4. Learned counsel for the respondent submits that the fact stated by the petitioner are not in dispute and the respondent Company is unable to pay the dues. 5. Considering the overall f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the company is trying to arrange the funds." 7. The Profit and Loss Account reflects the loss of Rs. 73,75,952 for the year ended 31-3-2010 and the Balance sheet reflects the accumulated loss of Rs. 3,35,79,531. 8. From the above, it is undisputed that the respondent Company owes sizable amount to the petitioner Company which is due and payable. Despite demand and statutory notice, ther ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
