AI Drafter 
TaxTMI 
TaxTMI 
2016 (4) TMI 783
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....e and also taking into consideration the materials available on record before this Court, I pass the following order: i) The Company Petition is admitted. ii) Notice to the respondent. iii) Notice on the Court Notice Board. iv) Notice to the Registrar of Companies, Chennai. v) Notice to be affixed in the Registered Office of the respondent-Company. vi) The petitioner-Company is directed to publish the Company Petition in one issue of English Daily viz., "The New Indian Express" circulated in Chennai and one issue of Tamil Daily viz., "Daily Thanthi" circulated in Chennai and also in the Tamil Nadu Government Gazette, by fixing 14 days in clear advance by fixing the hearing date as 27.10.2014. vii) The Official Liquidator, High Court, Madras is appointed as Provisional Liquidator and is directed to take charge of the assets of the respondent-Company. The Ex-Directors of the respondent-Company are directed to file their statement of affairs before the Official Liquidator within a period of 21 days. The Company shall deposit a sum of Rs. 10,000/- (Rupees ten thousand only) towards initial expenses before the Official Liquidator in this matter. Post the matter o....
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.... that the appeals may be allowed. In support of the above submissions, learned counsel for the appellant-Companies relied on the following decisions of the Supreme Court: (a) 2010 (10) SCC 553 (IBA) Health (I) (P) Ltd. Vs. Info-Drive Systems Sdn, Bhd.): "33. ... .... A Company Court cannot be reduced as a debt collecting agency or as a means of bringing improper pressure on the company to pay a bona fide disputed debt. Of late, we have seen several instances where the jurisdiction of the Company Court is being abused by filing winding-up petitions to pressurise the companies to pay the debts which are substantially disputed and the courts are very casual in issuing notices and ordering publication in the newspapers which may attract adverse publicity. .... " (b) 1965 (35) Comp.Cas. 456(SC) (Amalgamated Commercial Traders) (P) Ltd. Vs. A.C.Krishnaswami): "13. It is well-settled that "a winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company. A petition presented ostensibly for a winding up order but really to exercise pressure will be dismissed, and under circumstances may be stigmatized as a scan....
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....a fide dispute with regard to the sum payable towards the principal, it is open to the creditor to resort to both the remedies of filing of a civil suit as well as filing of a petition for winding up of the company." In that case also a bona fide dispute was raised by the company." 5. Learned counsel for the respondent-Company contended that the learned single Judge has passed the order based on the materials available on record and after following the principles of law and appreciating the merits of the case. He further submitted that there were exchange of notices between the parties and the amounts due to the respondent-Company had been clearly proved and hence, learned counsel prayed that the appeals may be dismissed. 6. Heard the learned counsel appearing for the parties and perused the materials available on record. 7. It is seen that the respondent-Company is engaged in the business of providing security services for offices, factories, etc. In the course of their business, the respondent-Company provided security services to the appellant-Companies. According to the respondent-Company, the appellant-Companies had not paid the amounts due under various bill amoun....
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....lso payable by you." M/s.R.R. Info. Park Pvt. Ltd: (Appellant in OSA.253/2014): "4. My client hereby calls upon you to pay the sum of Rs. 31,60,735/- along with interest @ 24% per annum as claimed in the previous paragraph within 21 days of receipt of this notice, failing which my client will be obliged to initiate such action as they are advised including filing of winding up petition against you. The charges of this notice Rs. 2000/- is also payable by you." 10. To the above notices, the appellant-Companies replied on 17.07.2009 stating as follows: "We refer to your notice dated 2nd June 2009. We had asked for certain information/details from your client Globe Detective Agency (P) Ltd. We await furnishing of information after which we shall process for payment." 11. Subsequently, on 22.02.2010, the respondent-Company sent notice to the appellant-Rudra Dev Aviation Pvt. Ltd. (appellant in O.S.A.No.252 of 2014), stating as follows: "3. As the amount due to my client has not been settled inspite of several demands, and also my earlier legal notice dated 02/05/2009, my client has no other option other than to issue this legal notice once again. You have not made any....
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.... by the respondent-Company and the amounts due to the respondent-Company had been clearly proved. Hence, the argument of the learned counsel for the appellant-Companies that the demand is neither admitted nor proved, is not at all sustainable. 14. It is seen that the above said subsequent notice, dated 22.02.2010 was received by the appellant-R.R.Info. Park Pvt. Ltd., (appellant in O.S.A.No.253 of 2014) on 25.02.2010 and the above said subsequent notice, dated 22.05.2010 was received by the appellant-R.R. Info. Park Pvt. Ltd., (appellant in O.S.A.No.253 of 2014) on 01.06.2010. It is also seen that the above said subsequent notice, dated 22.02.2010 was received by the appellant- Rudra Dev Aviation Pvt. Ltd. (appellant in O.S.A.No.252 of 2014) on 25.02.2010. The appellant-Companies have not paid the amounts as per the above notices within the stipulated time as per the provisions of the Companies Act. It is pertinent to note that the Company Petitions were presented by the respondent- Company before the Company Court on 05.10.2010 for winding-up of the appellant-Companies, after complying with the provisions of the Companies Act, i.e. after expiry of time for payment allowed as pe....