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2017 (8) TMI 253 - HC - Companies LawOutstanding dues - winding up petition - Held that:- The respondent had neglected to pay to the petitioner due to its relations becoming sour after October 2013 when the petitioner decided not to transact any further business with it. The respondent then blocked the balance payment. Despite the petitioner being shown, in its sundry creditors list till the year ending on 2014, the respondent suddenly showed the petitioner as a sundry debtor for the alleged losses it suffered on account of the conduct of the petitioner is nothing but a plot to avoid due payments to the petitioner which it neglected to pay despite promises made. The respondent failed to prove that its debt is a disputed debt. Its neglect to pay the balance amount without any cogent or sufficient ground rather reveal its inability to pay, hence there is no reason as to why the company petition be not admitted against the respondent. In view of the above, this petition is admitted. Citation be published in the “Statesman” (English edition) and “Jansatta” (Hindi edition) in accordance with Company (Court) Rules, 1959. However, publication of the citation and appointment of the provisional liquidator is deferred and one opportunity is given to the respondent company to pay the amount found already due and payable to the petitioner with interest at the rate of 8% per annum with effect from 25.02.2015 when the statutory notice was served on the respondent company. The amount be paid within one month failing which the petitioner shall be entitled to publish the citation and apply for appointment of the Provisional Liquidator.
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