2010 (8) TMI 167

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....for the Respondent. ORDER 1. The petitioner-company has filed this petition under section 433(e) of the Companies Act, 1956 (for short 'the Act') for winding up of the respondent-company. 2. Petitioner is a private limited company incorporated under the Act. The petitioner-company supplied material called Epoxy - a chemical used to fill the cracks of the granite to the respondent-company.....

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....dent-company contends that towards excess cost incurred by them a sum of Rs. 2,50,000 the petitioner-company supplied material under a consignment and the same is acknowledgement by the respondents in their letter dated 3-4-2008 as per Annexure R-2 and the voucher dated 3-4-2008 - Annexure R-3. Therefore, the respondent-company disputes the claim of petitioner-company. 4. Heard arguments on bot....

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.... satisfied - that the existing and probable assets would be insufficient to meet its existing liabilities." 6. In the instant case, there is no plea and there is no material to show that the respondent-company is unable to pay the debt due to the petitioner-company. Further the claim of petitioner-company is denied by the respondent-company. There is no material on record to show that prima fac....