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2012 (3) TMI 111 - BOMBAY HIGH COURTWinding up petition - appellant-company had suggested the proposal for settlement by way of one time resettlement of loan - On the basis of the above recovery certificate and calculating the interest on the principal amount, the petitioning creditor issued notice to the appellant-company calling upon the company to pay the bank an amount of Rs. 14.26 crores together with further interest from 1 March 2010 and other charges - It is also submitted that the appellant is a going concern with 470 employees who are being paid monthly wages of Rs. 21 lakhs - Held that: having regard to the fact that the first winding up petition being Company Petition No.5 of 2006 by this very petitioning creditor against the same company was dismissed by this Court in terms of order dated 8 June 2006 - Appeal is alloowed
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