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2018 (9) TMI 596 - CALCUTTA HIGH COURTWinding up petition on the ground that the company is unable to pay its debts - bona fide defence to the claim of the petitioner - Held that:- Company has failed to make out any bona fide defence to the claim of the petitioner in this application. Accordingly, this winding up application against the company is admitted for a sum of ₹ 1,74,65,867/- with interest thereon, at the rate of seven per cent (7%) , per annum from the date of receipt of the statutory notice dated March 15, 2016 till the date of payment. The company is directed to pay the said principal amount of ₹ 1,74,65,867/-, together with interest to the petitioner by eight equal monthly instalments. By the first seven equal monthly instalments the company shall pay the principal amont of ₹ 1,74,65,867/- and by the last instalment the company shall pay the interest amount to the petitioner. The first of such instalments shall be paid by the company to the petitioner, within August 31, 2018 and the subsequent instalments shall be paid to the petitioner within the 10th day of each succeeding month. In the event of any failure on the part of the company to pay any one of the above instalments within the time stipulated above, the petitioner shall be free to advertise this application once in the English newspaper, "The Statesman” and once in the Bengali newspaper, “Bartaman”. In the said notices the petitioner shall mention that the application shall appear before this Court on the first Monday, after four weeks from the date of publication thereof.
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