TaxTMI 
TaxTMI 
1982 (10) TMI 162
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....ra Jaimal Singh, Amritsar, in the State of Punjab. However, it is operating mainly from its administrative office at Bombay. The objects of the company, inter alia, are to arrange, produce, acquire, publish, dispose of and distribute films of every description and kind. At present, it is carrying on the business of production, distribution, exploitation and exhibition of motion pictures. It has been borrowing money from time to time for the purpose of their business. It produced some successful pictures. Petitioner No. 1 filed Suit No. 9004 of 1972, in the City Civil Court, Bombay, for the recovery of Rs. 4,346 against the respondents which was decreed against respondent No. 1 for the recovery of Rs. 4,000 plus costs amounting to Rs. 272....
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....uently, the petitioners served a statutory notice of demand dated June 28, 1978, on the company (copy annex. 'D') which was duly received by it and yet the amounts have not been paid. It is alleged that the failure of the company to pay the undisputed decretal amounts is conclusive proof of the fact that it is unable to pay its debts within the meaning of section 434 of the Companies Act. It is further averred that the company owes an amount of Rs. 10,000 to Smt. Shakuntala Arora, Rs. 4,000 to Smt. Jagjeet Kaur, Rs. 7,500 to Smt. Kanta Anand, Rs. 5,000 to Naval Kishore Goenka, Rs. 5,000 to Ram Gopal Kalya, Rs. 7,500 to Smt. Shankuntala Bhalla, Rs. 5,000 to Smt. Pushpa Malhotra, Rs. 5,000 to Rakesh Bhalla, Rs. 5,000 to Smt. Prem Uppal and Rs....
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.... & Beverages Pvt. Ltd : Dr. Avanindra Kumar Tyagi v. Bagai Foods & Beverages Pvt. Ltd. [1974] 44 Comp. Cas. 543 (Delhi). I have given due consideration to the argument of the learned counsel but regret my inability to accept the same. He made a reference to r. 34 ibid, relevant part of which reads as follows : "34. Notice to be given by persons intending to appear at the hearing of petition.-Every person, who intends to appear at the hearing of a petition, whether to support or oppose the petition, shall serve on the petitioner or his advocate, notice of his intention at the address given in the advertisement ......Such notice shall be in Form No. 9, with such variations as the circumstances may require, and where such person intends ....
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....earing of the petition means the date/dates on which the petition comes up before the court after it has been advertised according to the Rules. I am fortified in the above observations by the judgment of the Supreme Court in National Conduits (P) Ltd. v. S. S. Arora [1967] 37 Comp. Cas. 786 (SC), wherein it has been observed by J. C. Shah J., speaking for the court, that a petition for winding up cannot be placed for hearing before the court, unless the petition is advertised. I also get support in the above observations from Bipla Chemical Industries v. Shree Keshariya Investment Ltd. [1977] 47 Comp. Cas. 211 (Delhi). In that case, after filing of the petition for winding up the company by the creditors, some other creditors appeared t....