TaxTMI 
TaxTMI 
1995 (3) TMI 413
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..... Sodhi, J. - This is a creditor's petition filed under sections 433, 434 and 439 of the Companies Act, 1956 (for short, "the Act"), for the winding up of Curefast Remedies Ltd., with its registered office at Ludhiana (hereinafter called "the company") on the ground that it is unable to pay its debts. The company planned a public issue of its equity shares in March, 1993, and the same opened on M....
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....on behalf of the company, wrote a handwritten letter on April 6, 1993, to the petitioner thanking the petitioner for the work done. Thereafter, the petitioner raised a total bill for the work done amounting to Rs. 23,43,536.75. It is admitted that the company had paid a sum of Rs. 12 lakhs till March 15, 1993. Thus, the total amount due to the petitioner as claimed by it comes to Rs. 11,43,536.75.....
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....been denied and it is stated that no such acknowledgment could have been given on behalf of the company because the services provided by the petitioner were defective, deficient and unsatisfactory as a result whereof the public issue was not fully subscribed and the company suffered irreparable loss. It is also alleged by the company that the bill raised by the petitioner is highly inflated. It is....
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.... that the defence put up by the company is not an excuse to hide its inability to pay the amount. There is not enough material on the record for this court to hold that the amount as claimed by the petitioner is definitely due from the company. The disputed questions raised by the company in its defence cannot be gone into in the present proceedings without a regular trial of those issues. In the....