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2010 (10) TMI 910 - HC - Companies LawWinding up petition - Held that:- If a company is unable to produce or maintain its records it is a fit ground to order its winding up on just and equitable grounds. Further, the above conduct of the company shows they are somewhat lacking in commercial morality, which is another reason to order winding up on just and equitable grounds as discussed at page 3693 of the 16th edition, 2006 reprint of Ramaiya on Guide to the Companies Act. In any event, ₹ 2,04,360 is a very reasonable claim for occupation of the premises in question. This sum is prima facie payable by the company to the petitioning creditor.In the facts and circumstances above, I would admit the winding up application on just and equitable grounds and also on the ground that the company is prima facie unable to pay the sum of ₹ 2,04,360. However, I note that the balance claim of the petitioning creditor, has to be established in a suit. Therefore, this winding up application is admitted. The application should be advertised once in any English newspaper having circulation of over 50,000 copies in West Bengal and any Bengali newspaper of like circulation. Such advertisement should be made within four weeks from date. Publication in the Official Gazette is dispensed with. List this application five weeks hence.
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