Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2018 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 1437 - HC - Companies LawApplication for winding up - cheques dishonored - liability to pay the amount - Held that:- The financial accommodation/loan of ₹ 60 lakhs from the petitioner and as recorded in the letters dated July 17, 2013 and September 7, 2014 the respondent company was liable to repay the said amount to the petitioner together with the agreed rate of interest. In order to discharge its obligation, the company had issued two post dated cheques of ₹ 60 lakhs and ₹ 10,54,110/-, respectively both dated September 1, 2015 to the petitioner and when the petitioner presented the said cheques for encashment through its bank, the same were dishonoured on the ground of insufficient funds. Until receipt of the notice under Section 138 of the Negotiable Instruments Act, 1881 from the petitioner, the company did not inform the petitioner not to deposit any of the said two post dated cheques. Even in the affidavit in opposition, the respondent company has not disclosed any document whatsoever to suggest any oral agreement between the parties for adjustment of all the amount receivable by the petitioner against acquisition of any property at Kona, in the district of Howrah. For all these reasons, as find that the defence sought to be made out by the company in this application against the claim of the petitioner, lacks bona fide and the same has no merit. The application for winding up of the company is admitted for a sum of ₹ 73,95,617/- as mentioned in the notice dated December 1, 2015, under Section 434 of the Act of 1956, issued by the petitioner. The company is directed to pay the said sum of ₹ 73,95,617/- to the petitioner within a period of three weeks from date.
|