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2016 (2) TMI 50 - HC - Companies LawWinding up petition - Held that:- In the instant case, despite receiving the legal notice, that no payment has been made to liquidate the amount payable by the Respondent-Company has not been disputed. Admittedly, the software was purchased by the Respondent-Company pursuant to the Agreement and even assuming that the alleged termination has to be accepted, a sum of ₹ 10,99,615/- was due by the Respondent-Company to the Petitioner. Consequently, in case of the default of the payment of the said amount or any part thereof within the time specified herein the petitioner would be entitled for the relief in the above petition. The Petitioner are directed to pay a sum of ₹ 10,99,615/- in this Court within three months from today.In case the Respondent -Company fails to deposit the said sum of ₹ 10,99,615/- or any part thereof within the said period, the petition shall stand admitted and the Petitioner shall proceed to publish the notice in two newspapers one in “The Navhind Times” and other in regional language Marathi “Gomantak”.In case the amount is deposited within the said period stipulated herein above, the petition shall stand accordingly dismissed with liberty to the Petitioner to recover the legal dues from the Respondent in accordance with law.
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