2004 (8) TMI 397

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....r the petitioner-company and perused the entire material available on the record of the petition. 2. This is the Company Petition under sections 433(e) and 434 of the Companies Act, 1956 filed by the petitioner-company with a prayer that the respondent-company M/s. Magan Roller Flour Mills Private Limited be wound up under the provisions of section 443 of the Companies Act, 1956. 3. Having h....

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....peditious recovery of the dues of this category of creditors. But that remedy has deliberately not been availed of. The reason is very obvious. In a suit under Order 37 of the CPC a litigant has to pay heavy court fees. In the petition it is only a nominal court fees. The claim of the petitioner company against the respondent-company is of Rupees eighty-five lakhs. 4. Be that as it may I find t....

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....entioned hereinabove, demanding the said sum of Rs. 1,22,40,055 (Rupees one crore twenty-two lakhs forty thousand and fifty-five only) plus accrued interest till date which amounted to Rs. 74,36,587 (Rupees seventy-four lakhs thirty-six thousand five hundred eighty-seven only), both aggregating to a sum total amount of Rs. 1,95,72,015 (Rupees one crore ninety-five lakhs seventy-two thousand & fift....

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....er states that previously by a written communication dated 9-3-2004, addressed to various Authorities at Jaipur, Mumbai and Delhi, including the Petitioner herein as a 'related creditor' at Jaipur/Mumbai, the Chairman & Managing Director of the respondent-Company has apologized and put on record his financial irregularities for non-payment of various debts and business liabilities, including that ....