9911796707
TMI Blog2012 (4) TMI 838X X X X Extracts X X X X X X X X Extracts X X X X ..... tihalli, Doddaballapur, Bangalore-561 203. The respondent is M/s. Rayalaseema Commodities Ltd., company registered under the Companies Act having its registered office at New No. 3/1, Old No. 65/1, Amaravathi Nagar, 2nd Cross Street, Arumbakkam, Chennai-600 106. 3. The petitioner has stated that the authorised capital of the respondent-company is Rs. 8,50,00,000 divided into 85,00,000 equity shares of Rs. 10 each. The paid-up share capital of the respondent-company is Rs. 8,40,00,000. The main object for which the respondent-company was incorporated are stated in the memorandum and articles of association, which were filed along with the petition. The petitioner, private limited company is also engaged in the business of manufacturing pack ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice was also returned back to the petitioner with an endorsement not claimed with acknowledgment due. 5. In the aforesaid circumstances, the petitioner sent legal notice to the respondent-company by hand delivery on August 6, 2010, which was acknowledged by the managing director of the respondent-company, however, failed to comply with the demand made by the petitioner and there was also no reply from the respondent. As the respondent has not paid the amount due and payable to the petitioner and the petitioner reliably learnt that the respondent-company is indebted to so many creditors, find it proper to file this company petition, seeking winding up of the respondent-company. 6. In the company petition, after service of notice, the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respondent on July 1, 2010 and further, in the counter itself, the director of the respondent-company has admitted that there was business transaction between the petitioner and the respondent, whereby the respondent had to pay amount for the period from May 26, 2009 to September 16, 2009, as stated by the petitioner herein and disputed only the interest claimed therein stating that the respondent need not pay any interest, being a business transaction, the respondent is not entitled to raise a defence that interest need not be paid and further on July 1, 2010, the respondent has admitted and confirmed the balance payable to the petitioner at Rs. 25,63,531. Hence, it is not open to the respondent to dispute the liability, having accepted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On the aforesaid facts and circumstances, the petitioner is entitled to an order as prayed for. Accordingly, this company petition is allowed and order of winding up is passed, as per the provisions of the Companies Act. The official liquidator is appointed as the provisional liquidator and he is also directed to take charge of the assets and affairs of the respondent-company. The petitioner is directed to pay a sum of Rs. 10,000 (rupees ten thousand only) to the official liquidator for initial expenses. The ex-directors of the respondent-company are directed to file the statement of affairs within 21 days from the date of receipt of a copy of this order and hand over all the registers and records pertaining to the respondent-company witho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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