2016 (11) TMI 1072

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....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 on Axis Bank, Vaishali Nagar, Jaipur fav....

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....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 Apex Court in the case of Vijay Industries Vs. N....

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....icial 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 Official Liquidator as statutorily required. The ....