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2017 (6) TMI 656 - HC - Companies LawWinding up application - Held that:- The foundation of the claim of the petitioner to interest is not at all clear at this point of time. In the statutory notice they have mentioned a due date in respect of each invoice and the number of days by which the payment was overdue. The petitioner has calculated interest @ 24% p.a. Whether this rate of interest was agreed upon by the parties or claimed for the first time in the said notice is not disclosed. The petitioner has to produce all this evidence during the final hearing of the winding up petition. At any rate, the rate of interest prima facie appears to be penal. At the moment this court directs that the petitioner shall be entitled to simple interest @7% p.a. under the Sale of Goods Act, 1930 from the respective due dates of the invoices mentioned in the statutory notice dated 12th January, 2016. This winding up application is formally admitted. Direct that the petitioner be advertised once in Times of India, Kolkata Edition and once in Anandabazar Patrika, Kolkata Edition. Publication in the Official Gazette is dispensed with. Direct the advertisement be published by 31st May, 2017. The winding up application be listed as (Company Matter New) on 3rd July, 2017.
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