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2018 (5) TMI 2154 - HC - Companies LawWinding up of Company - company is unable to discharge its debts and is commercially insolvent - HELD THAT:- The company is indebted to petitioner, is unable to discharge its debts, is commercially insolvent and requires to be wound up. It is ordered to pass appropriate orders directing respondent company be wound up under the provisions of Section 433 (e), 434 (1) (a) and 439 of the Companies Act, 1956 for its inability, neglect and failure to pay and discharge its admitted debs and liabilities - it is directed to appoint Official Liquidator, High Court of Judicature at Bombay as Liquidator of respondent company with all powers under the Companies Act, 1956/2013 including the power to take possession of all the assets, books of account, stock in trade, cash on hand, movable properties including furniture and fixtures as well as all immovable properties. Petition allowed.
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