TaxTMI 
TaxTMI 
1998 (1) TMI 463
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....tion. The petition is being adjourned from time to time only for the purpose of granting admission and it seems that this amendment is sought only with a view to protract further hearing. In case I find that the petition is maintainable, then I would consider the claim for amendment but, at this stage, I do not entertain this prayer of seeking amendment as, in my opinion, the same is not a bona fide one. 3. The present applicant - Asian Bearing Company had filed Company Petition No. 67 of 1985 under section 433 of the Companies Act, 1956 seeking an order of winding up of Vasant Engg. (P.) Ltd., a company incorporated under the Companies Act. After issuance of notice in the said petition, the respondent had appeared and it seems that the pa....
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....inten- tion not to follow the same and the respondent deliberately and wilfully did not honour the said undertaking and thereby committed contempt of court. 5. The learned advocate for the applicant Shri B.P. Gupta urged before me that the Director of the respondent-company Haresh Parekh had given an undertaking and there is failure of the said undertaking and this failure on the part of the respondent to fulfil the undertaking amounts to contempt of court. In support of that submission of him, he cited before me the decision of the Division Bench of this Court in the case of Shaw Wallace & Co. Ltd. v. Repute Fertilizers 1992(2) GLR 1273 and he placed reliance on the following observations of the Division Bench of this court in para 16 on ....
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....mplied with without any further difficulty, obstruction and with due respect to the court. The original ex parte decree was for a sum of more than Rs. 8 lacs and there were also criminal proceedings against the defendants. By virtue of these consent terms, consent decree and the undertaking, the plaintiff had not only substantially reduced his claim, but also undertook to withdraw the criminal proceedings, on consideration of the second respondent giving up an undertaking before the court to comply with the consent terms and consent decree. The undertaking of defendant No. 3 was, therefore, also the part of the decree directing him to file such undertaking and such undertaking was in fact drafted and signed along with the consent terms on M....
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....nies Act. Company Court is not a court meant for passing any money decree nor is a court to execute money claim. The Company Court is to pass order of winding up of a company only on the grounds mentioned in section 433 of the Companies Act. I have already quoted above the order of the court and from the said order of the court it is quite clear that the petitioner himself has withdrawn the petition in view of the consent terms by which the respondent had agreed to make payment of his dues to the petitioner company. The Company Court had not at all acted upon the said consent terms and no order of the court or decree of the court is passed in pursuance of the said consent terms. Therefore, in the circumstances, merely because an undertaking....