2012 (4) TMI 838

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....-P2, KIADB Industrial Area, Bashettihalli, Doddaballapur, Bangalore-561 203. The respondent is M/s. Rayalaseema Commodities Ltd., company registered under the Companies Act having its registered office at New No. 3/1, Old No. 65/1, Amaravathi Nagar, 2nd Cross Street, Arumbakkam, Chennai-600 106. 3. The petitioner has stated that the authorised capital of the respondent-company is Rs. 8,50,00,000 divided into 85,00,000 equity shares of Rs. 10 each. The paid-up share capital of the respondent-company is Rs. 8,40,00,000. The main object for which the respondent-company was incorporated are stated in the memorandum and articles of association, which were filed along with the petition. The petitioner, private limited company is also engaged i....

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.... on June 30, 2010, however, the said notice was also returned back to the petitioner with an endorsement not claimed with acknowledgment due. 5. In the aforesaid circumstances, the petitioner sent legal notice to the respondent-company by hand delivery on August 6, 2010, which was acknowledged by the managing director of the respondent-company, however, failed to comply with the demand made by the petitioner and there was also no reply from the respondent. As the respondent has not paid the amount due and payable to the petitioner and the petitioner reliably learnt that the respondent-company is indebted to so many creditors, find it proper to file this company petition, seeking winding up of the respondent-company. 6. In the company ....

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....nd acceptance of the balance amount by the respondent on July 1, 2010 and further, in the counter itself, the director of the respondent-company has admitted that there was business transaction between the petitioner and the respondent, whereby the respondent had to pay amount for the period from May 26, 2009 to September 16, 2009, as stated by the petitioner herein and disputed only the interest claimed therein stating that the respondent need not pay any interest, being a business transaction, the respondent is not entitled to raise a defence that interest need not be paid and further on July 1, 2010, the respondent has admitted and confirmed the balance payable to the petitioner at Rs. 25,63,531. Hence, it is not open to the respondent t....