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2017 (10) TMI 906 - DELHI HIGH COURTStay of the winding up proceedings - petitioners are relatives of the ex-directors of the respondent company and have filed this petition on the allegations that the company owe an amount of ₹ 22.63 Lac to them which the company could not pay - Held that:- The grievance of the applicant herein is duly taken care of (a) by filing of criminal complaint No.40/1/2016 against the ex-directors of respondent company; (b) by filing various complaints under Section 138 of the NI Act; and (c) by obtaining an award dated 31.05.2010 in its favour. Further, admittedly on 06.09.2010 when the provisional liquidator was appointed as also on 02.03.2012 when the respondent company was directed to be finally wound up, the applicant’s counsel was very much present in the Court. The filing of this application after five years of passing of such orders despite having knowledge of the same would be nothing but an act of frustration, hence, the application being highly belated is dismissed. The applicant, even otherwise, is not devoid of remedy and may file claim before the Official Liquidator and once the claim is filed, the Official Liquidator to examine and verify the claim of the applicant herein and to deal with as per law.
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