2007 (11) TMI 410

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....MENT 1. This petition has been lodged as back as on 15-7-1998. However, the same is still pending for admission. That is presumably on account of order dated 23-7-1998 adjourning the matter sine die on the ground that the company was before BIFR. Registry has been informed that the company has already come out of BIFR. In that sense, the matter will have to proceed. However, it appears that a f....

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....)unless, in the opinion of the Court, there is a prima facie case for winding up the company; and (b)until such security for costs has been given as the Court thinks reasonable." Rule 97 of the Companies (Court) Rules, 1959 reads thus :- "97. Petition by a contingent or prospective creditor.- A petition for the winding-up of a company presented by a contingent or prospective creditor s....

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....e petition are to be served. The Judge may, if he thinks fit, direct notice to be given to the company before giving directions as to the advertisement of the petition." 3. On conjoint reading of these provisions it appears that the requirement of law is that before admission and consequent advertisement of the company petition, leave of the Company Court is required to be obtained, and which l....

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.... petition after its institution and registration so that the matter would proceed before the Court for admission or for grant of leave to advertise, is a matter which can be left to the Company Registrar, being ministerial work. That will also ensure that the matters do not remain pending in the registry for want of acceptance. If the Company Registrar is to indicate returnable date for admissi....