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2009 (4) TMI 436 - HIGH COURT OF GUJARATWinding up petition - failure to discharge liability to the tune of ₹ 1,24,39,306 due and payable to the petitioner - Held that:- While considering the present petition for winding up of the respon-dent-company, the state of affairs of the respondent-company which ultimately led to the financial crunch which is of a permanent nature by now, cannot be lost sight of. This is also one of the additional reasons which weighs with the court to admit the present petition filed against the respondent-company and pass an order of advertisement. Having regard to the facts and circumstances of the case and looking to the totality of the reasons, the present petition is hereby admitted and the petitioner is hereby directed to issue public advertisement for admission and final hearing of the present company petition in the English Newspaper The New Indian Express and in Gujarati Newspaper Divya Bhaskar having circulation in Surat fixing the date of final hearing on 4-5-2009. Publication of the advertisement in Government Gazette is dispensed with.
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