2003 (1) TMI 539

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....r sections 433(e), 434 and 439 of the Companies Act, 1956 is filed by the Industrial Development Bank of India and prayer has been made therein for a direction for winding up of the respondent company. This winding up of the respondent company is sought for on the ground of its inability to pay the debts of the Bank. 2. The petition was presented on 18-4-2000. On 13th July, 2000 the court has b....

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....ut an exercise in futility and it will waste the valuable and precious judicial time of the court as well as the registry. Otherwise also under the Company (Court) Rules it is not mandatory that before admitting the winding up petition a notice to show cause to the respondent company is must. It is at the discretion of the court. In the facts of this case the only mode which is left with the petit....