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2009 (4) TMI 459 - HIGH COURT OF MADRASWinding up - whether the appellant company had served the statutory notice on the respondent company before the winding up petition was filed? Held that:- The main objection in the company petition appears to be that the respondent company was not served with the notice and except stating that there was a bona fide dispute as to the debt, no documents are made available to show that there was a bona fide, dispute. On the other hand, the appellant company had heavily relied upon the communication of the respondent dated 21-3-2002 giving a undertaking that the outstanding bills would be settled once the company commenced its normal production. On the facts of this case, in our opinion, the appellant company has established that there was a debt exceeding ₹ 1 lakh due from the respondent company and there was no bona fide dispute. The appellant company had established its claim for a sum more than the amount specified in section 433 and the said money was due to them from the respondent company. In view of the deeming clause, the appellant company need not further prove that the respondent company was unable to pay the debts. As the respondent company had failed to honour the statutory notice by making payment, it must be held that it was unable to pay the debts. Thus the appellant company is entitled to succeed
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