2004 (7) TMI 376

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....s company petition is essentially a lis between the landlords and the tenant. Petitioners are the landlords and the respondent is the tenant. 2. The petition averments indicate that the tenant had violated certain terms of the agreement and in respect of such violations had put- forth certain claims in the nature of damages. The respondent-company having not complied with the demand of the peti....

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....dent-company should be ordered to be wound up. Learned Counsel has relied upon a decision rendered in (1973 Vol. 43 Company Court cases 63) in support of his submission. 5. There cannot be any two opinions about the legal position. A fiction is created in law by the provisions of section 434 of the Act for the default on the part of the company to whom a notice had been issued and who has faile....