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2019 (3) TMI 1976 - HC - Companies LawSeeking winding up of the respondent Company - Sections 433(e), (f), 434(1) (a) & (c) and 439 of the Companies Act, 1956 - HELD THAT:- A company is unable to pay its debt only when a demand is served at the registered office of the company to pay the sum so due and the company despite lapse of 3 weeks neglects to pay the sum or to secure the same. A petition under Section 433(e) can only be entertained after compliance of the mandatory procedure of Section 434 (1)(a) of the Companies Act. As no statutory notice has been sent against the company, namely, Times Internet Ltd, the said company cannot also be impleaded or subjected to a winding up proceeding. The present petition is accordingly dismissed with liberty to the petitioner to take steps as per law against the actual entity.
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