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2017 (12) TMI 977 - HC - Companies LawWinding up petition - respondent company is unable to pay its debt -Held that:- Though the reply affidavit and the affidavit of the Chartered Accountant were later on filed after the statement was made before this Court to pay ₹ 9,29,500/- in installments to the petitioner, however since there is a dispute raised based on the checking/ verification of the invoices by the Chartered Accountant and on calculation made by the Chartered Accountant of the respondent company for net outstanding amount payable of ₹ 6,33,500/- to the petitioner company, instead of taking further action in the matter for giving advertisement of the petition and for winding up of the respondent company, the petitioner could be permitted to withdraw ₹ 6,33,500/- deposited by the respondent company being the admitted amount due to be paid to the petitioner company and for the disputed amount, the petitioner could be relegated to take appropriate remedy in law, including filing of civil suit against the respondent company. In view of the above, the petitioner is permitted to withdraw ₹ 6,33,500/- deposited by the respondent company with the Registry of this Court with interest, if any accrued thereon. The Registry shall make payment of ₹ 6,33,500/- with interest, if any accrued thereon, to the petitioner within a period of TWO WEEKS from today. The petition with prayer for winding up is not accepted and stands dismissed with liberty to the petitioner to take appropriate remedy in law, including filing of civil suit, against the respondent company for recovery of the disputed amount.
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