9911796707
TMI Blog2013 (11) TMI 386X X X X Extracts X X X X X X X X Extracts X X X X ..... failed to discharge its liabilities and the respondent Company has lost its financial substratum and the Company has incurred liabilities to such an extent that they cannot be fulfilled. Under these circumstances, this Court is of the view that this is a fit case for passing the winding up order and accordingly, the respondent Company is ordered to be wound up under the provisions of the Companies Act, 1956. The Official Liquidator attached to this Court is appointed as the Liquidator of the Company. The official Liquidator attached to this Court as a provisional liquidator was directed by this Court by an order passed in the matter on 02.08.2011 to take custody and possession of the assets and properties of the Company and while taking pos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings of substituted service and adjourned the matter to 12.07.2011. The matter next was taken up for further hearing on 27.07.2011, wherein this Court passed a further order recording that the service of process to the respondent Company was returned but the Director of the respondent Company has accepted the service. But no appearance has been entered by the respondent Company. The requisite affidavit of service is filed by the petitioner. The order also records that the claim of the petitioner is for more than 5 Lacs and no explanation for not making the payment has come forth and therefore, the matter requires admission. As a last chance to the respondent Company, the matter was adjourned to 02.08.2011. Upon hearing the advocate f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice effected to the respondent Company stood returned but the Director of the respondent Company accepted the Notice. The respondent Company failed to enter appearance. The respondent Company therefore failed to controvert the claim of the petitioner. Prima facie there is ample evidence on record to hold that the respondent Company is unable to pay off its debts. The respondent Company has not discharged the claim of the petitioner in spite of repeated reminders and Statutory Notices dated 08.10.2010 and 07.12.2010 and the notices have remained without any response and unattended. There is clear neglect on the part of the respondent Company in making payment of the dues of the petitioner. The respondent Company has not given any response ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Company but no response was received. Having not received any reply, the petitioner addressed a registered AD letter on 02.12.2010 with the attached copy of the statutory notice dated 08.10.2010 again to the Company and a copy to the Director of the Company. On the failure of the Company to pay the dues the petitioner sought winding up of the respondent Company by filing the present petition on the ground that the Company was insolvent and unable to pay its debts. On issuance of the notice, the respondent Company failed to appear before this Court. 5. Looking to the facts and circumstances of the case, and further considering that the respondent Company has not come forward to controvert the contentions of the petitioner raised in the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view that the respondent Company is required to be wound up as it has failed to discharge its liabilities and the respondent Company has lost its financial substratum and the Company has incurred liabilities to such an extent that they cannot be fulfilled. Under these circumstances, this Court is of the view that this is a fit case for passing the winding up order and accordingly, the respondent Company is ordered to be wound up under the provisions of the Companies Act, 1956. The Official Liquidator attached to this Court is appointed as the Liquidator of the Company. The official Liquidator attached to this Court as a provisional liquidator was directed by this Court by an order passed in the matter on 02.08.2011 (Coram:K.M.Thaker,J.) to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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