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2018 (6) TMI 25 - HC - Companies LawWinding up recalled - compromise or arrangement with creditors and members - Held that:- Section 391 of the Act deals with the power to compromise or make arrangement with creditors and members. This provision on its cursory reading by itself would reveal that it can have no application to the facts of this case where apparently even despite the publication of notice there are no other creditors apart from EDC and the State Bank of India and the petitioner all of whom have affirmed on oath that their respective dues have been settled by the company under winding up. Hence applying the judgment in Omprakash J. Mehra (2012 (11) TMI 246 - BOMBAY HIGH COURT), in the factual matrix and that there were no dues remaining to be settled, i find that this is a fit case for recall of the winding up order dated 26/06/2009 and to permit the withdrawal of the petition.
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