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2018 (11) TMI 248 - HC - Companies LawWinding up petition - proof of debt due - Held that:- As no conclusion can be made that any amount is due or payable by the respondent to the petitioner. There is no debt due to the petitioner. There is hence, in my opinion, no merit in the present petition. No grounds are made out to pass an order for winding up of the respondent Company. Transfer of the proceedings to the NCLT - Held that:- The facts in the present case demonstrate that there is no material on merit to substantiate filing of the present winding up petition. It appears that the present application/request to have the matter transferred to NCLT is only an attempt to further delay and prolong the proceedings. Having come to a conclusion that there is no merit in the petition, see no reason to transfer the petition to NCLT. Also the old management of the Association, it appears cannot continue with the present proceedings. The new Management who were elected have decided to withdraw the present winding up petition. Accordingly, the present petition is even otherwise not maintainable in view of the decision taken by the new management of the petitioner to withdraw the present petition.
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