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2010 (6) TMI 331 - HIGH COURT OF CALCUTTAWinding up - Circumstances in which a company may be wound up - Held that:- the petition is entitled ex debito justitiae to have its petition admitted. CP No. 483 of 2009 is admitted in the principal sum of ₹ 7,77,980.80 together with interest at the rate of 9 per cent per annum from the date of the decree till payment. If the company furnishes security for such amount, inclusive of interest, in favour of the Registrar, Original Side, and pays costs assessed at 5000 GM to the petitioner within a fortnight of the petitioner’s written demand enclosing an authenticated copy of this order, the petition will remain permanently stayed. In the event such security is presented, the Registrar will invest the same by way of a fixed deposit in a nationalised bank for a period of six months within which period the company may attempt to have the ex parte decree set aside. If the company fails to have the decree set aside within such time, the petitioner will be entitled to receive the maturity value, less the Registrar’s commission, upon notice to the company. If the decree is set aside within such time, the company will be entitled to the maturity value, less the Registrar’s commission. In default of the security being furnished or the costs being tendered within the time permitted, the petitioner will advertise the petition in The Statesman and in Aajkaal. Publication in the Official Gazette will stand dispensed with. The advertisements should indicate that the matter will appear in Court on the first available working day after the expiry of four weeks from the date of publication.
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