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2017 (7) TMI 579 - HC - Companies LawWinding up petition - Held that:- The learned Single Judge has rightly held that the explanations in the affidavit in rejoinder belatedly made, inspire no much confidence and the explanation is feeble. The learned Single Judge has also noted the contradictions in the affidavit in rejoinder. On the one hand, the Appellant, denies suppression of material facts, but, in the same breath, admitted the commercial relationship between Tiryaki, Agrozan Dubai and Agrozan Singapore. Then again, there is a bare denial regards relevance of such commercial relationship to the transaction of supply of Yellow Peas. In a petition seeking winding up of a Company, the Company Court will go into the question of genuineness or otherwise of the dispute raised. If the Company Court is satisfied that the dispute raised is bona fide, the Court will normally not embark upon a detailed examination of the disputes in a winding up petition. In that sense, the procedure involved in a petition seeking winding up of a company, is of a summary nature. Accordingly, the learned Single Judge, exercised discretion based upon relevant considerations in declining to admit the petition for winding up of the Company.Accordingly, we see no reason to interfere with the impugned order made by the learned Single Judge.
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