TaxTMI 
TaxTMI 
2008 (1) TMI 620
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....pondent contending, inter alia, that the appellant is indebted to the respondent and that the appellant is unable to pay its debt. 2. When the said petition was filed, objections were raised regarding the maintainability of the petition on the ground that the affidavit annexed to the petition was not in the prescribed form and, therefore, the said petition could not have been entertained and was required to be dismissed on that ground alone. The second objection was also regarding maintainability of the petition on the ground that the power of attorney, on the basis of which the affidavit was filed by one Shri Pankaj Sachdeva, is not stamped and, therefore, no affidavit could have been filed in support of the Company Petition by a person o....
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....e power of attorney admittedly was not stamped at all as on that date when the said statement was made. The rejoinder was filed on 7-1-2004 and the said document came to be impounded and subsequently stamped on 19/22-4-2004. Therefore, there is no doubt that the said document on the date of swearing of the affidavit by the deponent was not a stamped document and in fact was an unstamped one. However, we cannot lose sight of the fact that as and when such unstamped document is relied upon and referred to in any proceedings, there is a provision for impounding the same. In the present case also when an objection was raised about the said document on the basis of which affidavit was filed, relying upon the fact that there was valid authority g....
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....therefore, could be ordered to be cured. We now proceed to consider the said finding and conclusion arrived at by the learned Company Judge. 9. In exercise of the powers vested under section 643 of the Companies Act, the Companies (Court) Rules, 1959 have been framed by the Supreme Court. The said Rules deal with the procedure as to how a company petition should and could be filed in the Court. Rule 21 thereof mandates that when a company petition is presented, such petition shall be verified by an affidavit made by the petitioner or by one of the petitioners, where there are more than one, and in case the petition is presented by a body corporate, by a director, secretary or other principal officer thereof and that such affidavit shall be....
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....t in the petition could be rectified by filing an amended petition in terms of Rule 21 of the Rules. 12. Another decision, which may have some relevance to the contentions raised, is the decision of the Supreme Court in F.A. Sapa v. Singora AIR 1991 SC 1557. The said case, of course, deals with a petition filed under the Representation of the People Act, whereunder it is mandatory that an election petition, if any, should be presented within 45 days of the date of the commencement of the election. There is also no power for condonation of delay applicable to the provisions of the said Act, as it is a special Act. In the context of the aforesaid facts, the Supreme Court in paragraph 28 held that while the result of a defective verification ....
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....th the provisions of sections 446, 447 and 537 of the Companies Act. In terms of the provisions of the Companies Act, a winding up petition is required to be filed within the period of limitation, as prescribed. Section 441 of the Companies Act deals with the provisions with regard to commencement of winding up proceedings. Sub-section (2) of section 441 states that the winding up of a company will be deemed to commence at the time of the presentation of the winding up petition. The said provision reads as follows:- "441. Commencement of winding up by Tribunal.-(1) Where, before the presentation of a petition for the winding up of a company by the Tribunal, a resolution has been passed by the company for voluntary winding up, the winding u....