2000 (2) TMI 778

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....ari Om Sharma for the Respondent. JUDGMENT Aggarwal, J. - This is a petition filed by Shri Ram Phal Chaudhary (hereinafter described as "the petitioner") under sections 433 and 434, read with section 439 of the Companies Act, 1956 ('the Act') seeking winding up of the respondent-company. 2. The facts alleged are that the petitioner deposited Rs. 15,000 and Rs. 19,900 with the respondent-c....

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....pondent-company. On the merits, it is admitted that the respondent-company is under financial crisis and is not in a position to make the payment. It has still insisted that it cannot be termed that the respondent-company is unable to pay the debt. 4. After hearing the parties' counsel, it is patent and clear that the contention of the respondent-company's counsel cannot prevail. It is no groun....