1999 (12) TMI 818

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....1. D.C.M. Financial Services Ltd. (petitioner-company) has filed the present petition under sections 433(e), 434(1)(a) and 439 of the Companies Act, 1956 ('the Act') praying for ordering the winding up against Prithipal Singh Construction Co. ('the respondent-company) and for appointment of the official liquidator as liquidator of the respondent-company. 2. The respondent-company is stated to h....

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...., default clause, etc., were also specified therein. It is stated in the petition that the respondent-company failed to maintain the financial discipline of payment and post-dated cheques issued by the respondent-company were dishonoured on presentation. Despite notice, payments were not made. As per the books and account of the petitioner-company, a sum of Rs. 15,01,017 was due as on 30-11-1998. ....

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....ng to Rs. 16,32,098. 4. Notice of the petition had been issued on 6-8-1999, this Court recorded that the respondents are served but there was no appearance on their behalf. The position once again is the same. In the absence of any appearance, it is deemed that the assertions claimed are not disputed. The petition is admitted. It be published in the Indian Express (Chandigarh Edition) and Daini....

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....ition before admission and even now nobody appeared on behalf of the respondent-company. The only noticeable point which appears from the record is, whether arbitration agreement (clause 10.11) contained in the hire-purchase agreement and the jurisdiction being vested in the court at Calcutta under clause 10.12 can operate as a bar to the allowing of present petition or not ? Both the above-said c....