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2014 (6) TMI 1005 - HC - Companies LawAmount payable on account of principal by the company to the petitioning creditor after being given credit for ₹ 6 lakhs paid by it to the petitioning creditor - interest at 8% per annum on the reducing balance on and from the date of issuance of statutory notice till realisation - Held that:- It is pertinent to note that the matter has come at the post advertisement stage and in the event of any default in payment the company shall be wound up forthwith. The Official Liquidator will be at liberty to take possession of the books, records and documents so also the assets and properties of the company forthwith. If on the contrary payment is made and dues liquidated shall be permanently stayed. The advertisement costs be paid by the company on liquidation of the sums mentioned above unless otherwise agreed to between the parties
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