TaxTMI 
TaxTMI 
TaxTMI 
2016 (3) TMI 335
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....operties, affairs and records of the respondent-Company, with all available powers under the Companies Act. 2. It is the case of the petitioner that the respondent-Company has been incorporated under the provisions of the Companies Act and its registered office is situated at 400, Platinum Plaza, Judges Bungalow Road, Ahmedabad, Gujarat380054. The respondent-Company is a Public Limited Company engaged in the business of manufacturing cement and allied products. It has changed its name to "Star Cements and Infra Limited" vide Fresh Certificate of Incorporation dated 16.01.2008, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. On 27.03.2008, the Company again changed its name to "Deepak Cements and Chemicals Limited". T....
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....ng this meeting, it was decided that the claim of the petitioner would be settled on, or before, 28.02.2010. A copy of the Minutes of the Meeting held on 06.02.2010 is annexed at AnnexureG to the petition. However, the respondent-Company did not make any payment pursuant to the decision arrived at the said meeting. Thereafter, the petitioner frequently demanded the settlement of the total outstanding dues, by various written communications, telephone calls and emails. However, the respondent-Company has failed to make any payment. 5. It is further the case of the petitioner that in partpayment of the dues, the respondent-Company has issued ten Cheques of rupees ten lakh each, drawn on Union Bank, Ashram Road, Ahmedabad Branch. However, all....
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....rary, has stated that within a short span of two to three months, it would restart its operation and clear the dues of the contractors and suppliers, after confirming their final balances. The respondent-Company has requested the petitioner to submit the final bill, along with complete material reconciliation under the work order, to complete the accounting work. In the Minutes of the Meeting held between the petitioner and the respondent-Company on 06.02.2010, it has been specifically recorded that it has been decided that the outstanding dues of the sundry debtors would be settled by the respondent-Company on, or before, 20.02.2010. 8. Learned counsel for the petitioner has relied upon a judgment of the Supreme Court in M/s. Vijay Indust....
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....50,00,000/- 3 866161 22/04/15 50,00,000/- 4 866162 30/04/15 50,00,000/- 5 866163 10/05/15 50,00,000/- 6 866164 16/05/15 50,00,000/- 7 866165 23/05/15 50,00,000/- 8 866166 31/05/15 23,55,560=57 Total: 3,48,55,560=57 14. It is specifically stated by the respondent in the Undertaking that "the Respondent further undertakes that the aforesaid cheques would be cleared on being presented with the bank" (emphasis supplied). 15. It is an admitted fact that all the above Cheques have been dishonoured by the Bank. The respondent-Company has, therefore, failed to honour the Undertaking given by it to this Court. Even thereafter, sufficient time has been granted to the respondent-Company in order to ....
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....last chance to the respondent-Company to settle the matter with the petitioner and, therefore, at this stage, order of advertisement may not be passed and the same may be deferred for a period of eight weeks. The request is accepted. The publication of advertisement is deferred for a period of eight weeks. S.O. to 4.9.2015." 17. As is clear form the above order, once again, the order of publication of the advertisement was deferred by this Court, at the behest of the respondent. The opportunity granted to the respondent-Company by the Court was not availed of and the respondent-Company still did not make the payment of the outstanding dues to the petitioner. Therefore, by an order dated 06.10.2015 this Court (Coram: Hon'ble Mr. Justice V.....