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2018 (6) TMI 1264 - HC - Companies LawWinding up of the company - bonafide defence to the claim of the petitioner - Held that:- Supreme Court, in the case of Madhusudan Gordhandas and Co.-vs.-Madhu Wollen Industries Pvt. Ltd. [1971 (10) TMI 49 - SUPREME COURT OF INDIA], held that the Court can refuse a petition for winding up of the company when the claim of the petitioner is bona fide disputed by the company. In other words, in the first place when the defence of the company is in good faith and one of substance, secondly, the defence is likely to succeed in point of law and thirdly, the company adduces prima facie proof of the facts on which the defence depends, the Court should refuse to admit the winding up application against the company. Considering the facts of the present case as find that the company has not been able to make out any bona fide defence to the claim of the petitioner, nor has it adduced any prima facie proof of the facts on which its defences depend. For all the foregoing reasons, this winding up application is admitted for ₹ 12,12,815/-. However, since the rate of interest claimed by the petitioner at the rate of 21%, per annum appears to be exorbitantly high and, as such, the same is reduced to 9%, per annum. Hence, hold that petitioning creditor is entitled to the sum of ₹ 12,12,815/-, together with interest at the rate of 9%, p.a. The winding up application shall be advertised once in the English newspaper, “the Statesman” and once in the Bengali newspaper, “Bartaman” by May 22, 2018. Publication in the Official Gazette is dispensed with
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