2000 (2) TMI 781

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....ny filed a winding up petition being Company Petition No. 918 of 1997 before the Company Court of the High Court of Bombay against the respondent-company, for default in paying the amounts due to the appellant-company. After hearing counsel for the appellant and the respondent, the learned Company Judge in his order dated 9-12-1998 observed that even on the basis of the contention of the responden....

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....he amount of Rs. 6,50,000 already deposited by the company may be adjusted against the deposit of Rs. 70,00,000 as ordered in Clause 1 of this order. (5) The present order will not preclude the respondent-company in taking out appropriate proceedings in the pending suit against the petitioner. (6) If the amount is not deposited by the respondent-company within the time aforesaid, the company....

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....and dismissed. But it also stated that the appellant could be permitted to withdraw the aforesaid amount only on furnishing security to the satisfaction of the Prothonotary and Senior Master of the Court. 5. The appeal came up for final disposal on 26-4-1999 to the Division Bench of the High Court. The Division Bench directed that in case the deposit is made, the same could be withdrawn by the ....