2013 (7) TMI 1154

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....the Respondent company-The Loot (India) Pvt. Ltd. 2. The respondent is a limited company registered under the Companies Act, 1956. Main object of the respondent company is to deal in Ayurvedic and unani druges, medicines, chemicals etc. 3. The case of the petitioner company is as follows: The petitioner advanced consideration of Rs. 10 lakhs to the respondent company by Cheque No. 143695/- d....

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....Thereafter the petitioner presented the bill of exchange on the respondent. The respondent issued two cheques dated 1 March 2013 totaling to Rs. 10 lacs. When deposited the cheques were returned with remark 'funds insufficient'. Thereafter the petitioner addressed a statutory notice on 9 March 2013 which was received. Since there was no reply to the notice nor any payment was made, the pre....

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.... reason it has not been paid. Case for admission is made out. 7. The Company Petition is admitted, returnable on 13 September 2013. 8. The advocate for petitioner undertakes to publish the next date of hearing of the petition in two newspapers, namely, "Free Press Journal" in English language and translation thereof in "Navshakti" in Marathi language both having circulation in Mumbai and als....