https://www.taxtmi.com/caselaws?id=258100 The court admitted the winding up petition against the respondent company for failing to pay the remaining amount owed to the petitioner for a Duplex Villa purchase. The court found the respondent's defense regarding forfeiture and penalty to be invalid and held the respondent liable to pay interest on the admitted amount. Interest was awarded at 12% per annum from specified dates. The respondent was given four weeks to comply, with necessary orders to follow upon failure to do so. The court also directed the release of the deposited amount to the petitioner and maintained a restraint order until the petition's disposal. en-us Wed, 07 May 2014 00:00:00 +0530 Tue, 31 Mar 2015 20:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258100 The court admitted the winding up petition against the respondent company for failing to pay the remaining amount owed to the petitioner for a Duplex Villa purchase. The court found the respondent's defense regarding forfeiture and penalty to be invalid and held the respondent liable to pay interest on the admitted amount. Interest was awarded at 12% per annum from specified dates. The respondent was given four weeks to comply, with necessary orders to follow upon failure to do so. The court also directed the release of the deposited amount to the petitioner and maintained a restraint order until the petition's disposal. Case-Laws Companies Law Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258100