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TMI Blog2018 (8) TMI 506X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Company continues its operations. Having regard to the fact that the Company, inspite of the notice, has neglected to pay the outstanding dues or to secure or compound for it to the reasonable satisfaction of the petitioner, within the meaning of Section 434 (1) (a) of the Act, the Company would be “deemed to be unable to pay its debts”. In that view of the matter, the Company is liable to be wound up under Section 433 (e) of the Act. - Company Petition No. 33 of 2014 - - - Dated:- 3-8-2018 - C.V. BHADANG, J. Shri R.G. Ramani, Advocate for the Petitioner. ORAL JUDGMENT: This is a petition under Section 439(1)(b) of the Companies Act, 1956 (Act, for short) for winding up of the Company, namely, M/s Waterways Ship ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 3,93,259.33/- to the petitioner. 4. The petitioner issued a notice dated 13.05.2014 and a second notice dated 11.09.2014, demanding the aforesaid dues, which was received by the Company on 13.09.2014. However, the Company failed to pay the dues. It is in these circumstances, that the petitioner filed this petition for winding up of the Company. 5. The present petition was admitted on 09.02.2015. It appears that even at the stage, prior to admission of the petition, the Company chose not to appear before this Court. Even after the admission of the petition and issuance of the advertisement in the local newspaper Navhind Times and the regional paper Sunaparant, the Company has not appeared before this Court. 6. I have h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... whole or in part; or (c) if it is proved to the satisfaction of the Tribunal that the company is unable to pay its debts, and, in determining whether a company is unable to pay its debts, the Tribunal shall take into account the contingent and prospective liabilities of the company. (2) The demand referred to in clause (a) of sub-section (1) shall be deemed to have been duly given under the hand of the creditor if it is signed by any agent or legal adviser duly authorised on his behalf, or in the case of a firm, if it is signed by any such agent or legal adviser or by any member of the firm. 8. In the present case, the petitioner had issued a notice to the Company demanding the dues, which has been duly served on the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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