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2009 (2) TMI 463 - HIGH COURT OF BOMBAYWinding up - Circumstances in which a company may be wound up - Held that:- If the company deposits in this Court a sum of ₹ 3,50,00,000 on or before 31-3-2009, the same shall be invested in a nationalised bank initially for a period of one year and thereafter for like periods of one year each. In the event of the amount being so deposited and in the event of the petitioner filing a suit within twelve weeks from the date of the petitioner’s advocate being informed of the same in writing, the amount shall stand transferred to the credit of that suit. In the event of the suit not being filed as aforesaid, the petition shall stand dismissed and the amount with interest thereon shall be refunded to the respondent-company. If the company fails to deposit the amount as aforesaid, the petition shall stand admitted and shall be advertised in the Free Press Journal, Maharashtra Times and Maharashtra Government Gazette. The petitioner to deposit an amount of ₹ 10,000 with prothonotary and senior master of this Court within four weeks from the date of default
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