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TMI Blog2012 (6) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... heir liability - as there is negligence to pay the amount which is due to the petitioner the respondent company is liable to be wound up so as to enable the Official Liquidator to take charge of the assets and recover the amounts. - COMPANY PETITION NO. 63 OF 2010 - - - Dated:- 12-4-2012 - A.S. BOPANNA, J. Ms. Sreedevi K.B. for the Petitioner. ORDER 1. The petitioner is before this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondents, they had defaulted in paying the monthly instalments regularly, interest had, therefore, accured and as such, the amount repayable had amounted to a sum of Rs. 12,75,699-03. The petitioner therefore, got issued a statutory notice dated 16-12-2009 as per Annexure-G. the respondents though received the said notice, did not reply the same nor did they repay the amount. It is in that circum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim, it is evident that the respondents are not in a position to discharge their liability and there is negligence to pay the amount which is due to the petitioner. Therefore, the respondent company is liable to be wound up so as to enable the Official Liquidator to take charge of the assets and recover the amounts. 5. Hence the following: ORDER ( i ) The petition is allowed. ( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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