1998 (1) TMI 402

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.... Swatanter Kumar, J. - The court being satisfied that the company was unable to pay its debt due, vide order dated November 24, 1997, this winding up petition was admitted and notice was directed to be published in the Indian Express, Punjab Government Gazette and Punjabi Tribune at least fourteen days prior to the next date of hearing which was January 15, 1998. In compliance with this order o....

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....ith receipt of the material against declaration has been placed on record. The petitioner has served a notice under section 434(1)(a) of the Companies Act, by registered acknowledgment due. The notice was addressed to the respondent-company at its registered office. The said notice was delivered back to the petitioner with the remarks of the postal authorities that notice has been "refused". The p....

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....med to be correct. There is definite evidence on record that the amount is lawfully due to the petitioner and the respondent-company in spite of notice has intentionally failed to pay its liability. The company is unable to pay the debts due from the company. For the reasons aforestated, this petition needs to be allowed. Consequently, this petition is allowed with costs which are assessed at R....