1994 (7) TMI 360

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....nd further giving liberty to the petitioner to apply in case of default. 2. By another order dated 10-9-1990 passed by Justice Prabir Kumar Majumdar instalment were again allowed to the Company for payment of the dues of the petitioning creditor. By the said order dated 10-9- 1990 it was, inter alia, provided that in default of making payment in the manner as indicated in the said order, the pe....

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.... before me Sections 17 and 18 of the said Act of 1993. 5. In my opinion it cannot be said that a winding up application is an application for obtaining decision for recovery of debts due to any bank or financial institution. A winding up proceeding is a proceeding under The Companies Act and the relief and/or order for winding up can only be made by or under the provisions of the Companies Act.....

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....ing the statutory report to the Registrar or in holding the statutory meeting; (c) if the Company does not commence its business within a year from its incorporation, or suspends its business for a whole year; (d) if the number of members is reduced, in the case of a Public Company, below, seven, and in the case of a private Company, below two; (e) if the Company is unab....