1998 (7) TMI 560

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.... ('the Act') seeking an order of winding up against the respondent-company. According to the petitioner, an amount of Rs. 6,39,923 was due on account of bill of exchange, together with interest. As the amount was not paid, statutory notice was issued. There is no reply to the statutory notice. When the petition is called out for hearing, the learned counsel for the petitioner is absent. Heard the ....

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....o withdraw an amount of Rs. 4 lakhs out of the amount of Rs. 5 lakhs deposited by the respondent in this Court as there is no dispute between the parties that the petitioner is entitled for the same. The disposal of the balance amount of Rs. 1 lakh shall be governed by the order that may be passed by the civil court in civil suit to be filed by the petitioner. In case, the amount is so deposited, ....