2018 (7) TMI 1858

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....r. Ratnanko Banerji, Sr. Adv. Mr. Reetobroto Mitra, Adv. Mr. Sakya Sen, Adv. Mr. Rudrajit Sarkar, Adv. Mr. Priyankar Saha, Adv. Mr. Jayanta Kr. Mitra, Sr. Adv. Mr. Tilak Kr. Bose, Adv. Mr. S. K. Chakraborty, Adv. Mr. Indradeep Basu, Adv. Mr. Ramanuj Roy Chowdhury, Adv. Mr. Shyamal Sarkar, Sr. Adv. Mr. R. A. Agarwala, Adv. Mr. D. N. Sharma, Adv. Ms. Manju Bhuteria, Adv. Mr. Rajesh Kr. Gupta, Adv. M....

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....e Sick Industrial Companies (Special Provisions) Act, 1985. Such fact was brought to the notice of the company Court and, by an order dated October 13, 2015, the creditor's winding-up petition was adjourned till March, 2016 and, subsequently, it was adjourned sine die. In view of the embargo under Section 22(1) of the said Act of 1985, the creditor's windingup petition could not be pursued, though....

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....ourt permitted the agreement between the petitioning-creditor and the company regarding further payment to be worked out; but the company ultimately failed to discharge its debt and the petitioning-creditor pressed and obtained an order for the company to be wound up. The State Bank as secured creditor of the company complained to the company Court that in the light of the company petition havi....

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.... advertisements and the matter remained adjourned for a substantial period of time, a fresh advertisement should have been directed to be published before the matter was considered at the post-advertisement stage. The company Judge cannot be faulted for such perception, since creditors of a company have a say at the post-advertisement stage and the company Judge has the discretion to not wind up t....