TMI Blog1999 (12) TMI 818X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under sections 433( e ), 434(1)( a ) and 439 of the Companies Act, 1956 ( the Act ) praying for ordering the winding up against Prithipal Singh Construction Co. ( the respondent-company) and for appointment of the official liquidator as liquidator of the respondent-company. 2. The respondent-company is stated to have approached the petitioner-company as it was desirous of taking on hire an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petition that the respondent-company failed to maintain the financial discipline of payment and post-dated cheques issued by the respondent-company were dishonoured on presentation. Despite notice, payments were not made. As per the books and account of the petitioner-company, a sum of Rs. 15,01,017 was due as on 30-11-1998. A registered notice dated 12-12-1998 was served upon the respondent-com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6-8-1999, this Court recorded that the respondents are served but there was no appearance on their behalf. The position once again is the same. In the absence of any appearance, it is deemed that the assertions claimed are not disputed. The petition is admitted. It be published in the Indian Express (Chandigarh Edition) and Dainik Tribune and also in the Punjab Government Gazette. However, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the respondent-company. The only noticeable point which appears from the record is, whether arbitration agreement (clause 10.11) contained in the hire-purchase agreement and the jurisdiction being vested in the court at Calcutta under clause 10.12 can operate as a bar to the allowing of present petition or not ? Both the above-said clauses are no more res integra and stand fully settled. A D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petition finally and order the winding up of the respondent-company. 6. Consequently, the present company petition is allowed. The respondent-company is ordered to be wound up in accordance with law. The official liquidator attached to this Court is hereby appointed the official liquidator of the respondent-company. He shall take over the books of account, assets, properties of the company fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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