9911796707
TMI Blog2018 (1) TMI 1642X X X X Extracts X X X X X X X X Extracts X X X X ..... g order : This Company Petition has been filed seeking to wind up the Respondent Company - Jaylaxmi Sugar Products (Nitali) Pvt. Ltd. on the ground that it is unable to pay its debts. It is the case of the Petitioner that the Respondent Company is indebted to the Petitioner in the sum of Rs. 3.44 Crores which is inclusive of interest. 2 It is the case of the Petitioner that during the course of business of the Respondent Company, the Respondent Company had approached the Petitioner for supply of various materials. The Respondent Company had supplied the materials as per their various purchase orders, the details of which have been set out in paragraph 5 of the Petition. 3 As per the aforesaid purchase orders, the Petitioner supplied t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. This being the position, and applying the ratio of the decision of this Court in the case of Deepak Machineries Pvt. Ltd. Vs Ispat Industries Ltd.1 I am satisfied that the service of the statutory notice is complete and good service. 7 On the same parity of reasoning and applying the ratio of the decision of this Court in the case of M/s Euroamer Garuda Resorts (India) Pvt. Ltd. Vs. Endeavour Media Management Pvt. Ltd.2 , I am satisfied that the service of the Company Petition is complete and good service. Despite service, none have appeared today and no affidavit-in-reply has been filed. 8 After going through the papers and proceedings in the Company Petition, I am satisfied that huge amounts are due and payable by the Respondent Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rly satisfied that respondent company is unable to pay its debts and the claim of petitioner is undisputed. I have heard Mr. Kharawala, counsel for petitioner and also considered the pleadings and the documents annexed to the petition. I am also satisfied that there is a debt and the company is unable to discharge its debts, is commercially insolvent and requires to be wound up. 4 Company petition is, therefore, allowed in terms of prayer clauses - (a) and (b), which read as under : (a) The company, Jailaxmi Sugar Products (Nitali) Pvt. Ltd. having its registered office at 702, G6, Phase II, Ganga Dham, Market Yard, Pune - 411 037 be wound up by this Hon'ble Court in accordance with provisions of the Companies Act, 1956; (b) The Of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
