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2016 (11) TMI 1072
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....ner company is that a loan agreement was signed between it and the respondent company Golden Future Fertilizer Limited on 20-5-2011. Following the agreement, a sum of Rs. 1.54 crores as agreed was advanced to the respondent company under three cheques (i) 862 dated 21-5-2011 for Rs. 52,00,000/- (ii) 857 dated 30-5-2011 for Rs. 51,00,000/- and (iii) 858 dated 6- 6-2011 for Rs. 51,00,000/- all drawn....
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....et dated 31-3-2012 acknowledges the loan obtained from the petitioner company and is thus a clear admission of the debt owing to petitioner company which has since remained unpaid despite statutory notice. No reply to the company petition was filed despite service of notice by publication under Order 5 Rule 20 CPC. In the aforesaid circumstances, considering the enunciation of law by the Ape....
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....lizer Limited is directed to be wound up. The Official Liquidator is appointed as Liquidator of the respondent company under Section 448 of the 1956 Act. He shall take steps to take possession of the immovable and movable assets of the respondent company, if not so already done. The Directors of the respondent company are directed to file statement of affairs of the respondent company before the O....