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2010 (9) TMI 929 - KARNATAKA HIGH COURTWinding up petition - Held that:- From the material on record, it is seen that the respondent-company was found due certain money to the petitioner as on 24-2-1995. The amount due to the petitioner is under a decree of the Court in case No. LE and C Suit No. 32/38/1992. The present petition is filed on 5-6-2000. Therefore, the claim of petitioner is within the time and not barred by limitation. Therefore, there is no substance in the contention of the respondent-company that the claim of the petitioner is barred by time. The petition is hereby allowed.The Official Liquidator is appointed as liquidator of the respondent-company.Petitioner-company shall deposit a sum of ₹ 25,000 with the Official Liquidator to meet the initial winding up expenses. Petitioner-company to take out advertisement of this order in one edition of ‘The Hindu’ English Newspaper within fourteen days from the date of receipt of copy of this order. Petitioner-company to serve certified copy of this order with the Registrar of Companies within thirty days from the date of receipt of copy of this order. Ordered accordingly.
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