2003 (6) TMI 335

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....iled under section 433(e) of the Companies Act against the respondent-company known as Distinct Realty Limited (hereinafter referred to as "Company") seeking for its (Company's) winding up. The winding up is sought essentially or rather only on the ground falling under section 433(e) of the Act contending that company has failed to pay a sum of Rs. 8,42,198 to the petitioner i.e., inability to pay....

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....with interest, the company has not yielded to its request and hence, need to file a petition for winding up against the company. 3. Heard Shri G.M. Agrawal, learned counsel for the petitioners on the question of admission. 4. Having heard learned counsel for the petitioner and having perused record of the case, I find no substance in the petition and hence, it must merit in its dismissal. ....

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....r the Companies Act in winding up petition. Merely because the debtor happens to a company in itself is no ground to file and entertain a company petition for its winding up though it is one of the main attributes for its entertaining. The Company Court in its special jurisdiction under the Companies Act cannot hold any factual inquiry on questions which are material for deciding the entitlement o....