TaxTMI 
TaxTMI 
2017 (9) TMI 1940
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....porate Guarantee to secure the outstanding dues of borrower Aarohi. 2. The facts in brief reveal that on 7th January, 2008 Aarohi sought from the petitioner and was sanctioned credit facility in the nature of Trust Receipt Loans and as part of security offered the Corporate Guarantee of the respondent company. The respondent company executed the Corporate Guarantee dated 16th January, 2008 which appears at Exhibit-D to the petition. 3. The fact that the guarantee was executed is not in dispute since the execution of the guarantee was authorised by the resolution dated 9th January, 2008 copy of which appears at Exhibit-C to the petition. Pursuant to the execution of the guarantee, it appears that Aarohi defaulted in making payment of their....
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....earned Single Judge. The contentions raised in the appeal were similar to those raised before the Company Court and no ground raised for warranted interference with the impugned Order. 6. Being aggrieved by the said order the respondent filed SLP(C) No. 1495/2017 and the same was heard and came to be dismissed vide order dated 30th January, 2017. In the circumstances, it is evident that the order of admission has achieved finality. The Order dated 19th October, 2015 deals in great detail with the defences of the Company. In paragraph 3 it records that only three defences were urged. Firstly that the contract of guarantee was executed by the respondent with the branch of the applicant bank at Hong Kong and that each branch has a separate ex....
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....eply. 8. The petition is also advertised as directed in the order of 19th October, 2015. Learned Counsel for the petitioner submitted that the affidavits of service are already on record and find that they are already filed as of 13th April, 2017. Affidavit of publication in two local newspapers and a further affidavit of publication in Maharashtra Government Gazette on 13th April, 2017 is also seen to have been filed in this Court on 25th April, 2017. 9. In the circumstances, the petition is liable to be allowed and accordingly I pass the following order : (i) Petition is allowed. The respondent Company M/s. Classic Diamond (India) Limited shall be wound up by and under the supervision, direction and order of this Court in accordance w....