2004 (8) TMI 398

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....el for the petitioner and perused the entire record of the winding-up petition. It is another winding-up petition placed before the court today and wherein I have no hesitation to state that the winding-up jurisdiction of the court has been made by the litigants a mode of recovery of their dues against the companies. It is misconception prevailing amongst the creditors that winding-up petition is ....

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.... 434 of the Companies Act, 1956. Section 433 of the Companies Act, 1956 provides the circumstances in which the company may be wound up by the court. It is not in dispute that the petitioner has prayed for winding-up of the respondent company under section 433(e) of the Companies Act, 1956. Section 434 of the Companies Act, 1956 makes a provision, - A company shall be deemed to be unable to pay it....

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....lishers (P.) Ltd. 16 Surya Nagar, Near Gangotri Garden, Gopalpura Bypass, Jaipur-302018 4. It is not gainsay that it is not a notice to the company. The Managing Director is not a Company and thus the refusal thereof by him will not be taken as if the notice delivered to the Company. As there is no valid delivery of the notice under section 434 of the Companies Act, 1956, this company petition....