2004 (8) TMI 397

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 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 heard learned counsel for the petitioner-comp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ory 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 that a cheque of rupees eighty-five lakh was th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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 & fifteen only). The said legal notices were sent by regis....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ated 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 of the Petitioner above named for his legitimate and o....