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2018 (12) TMI 962 - HC - Companies LawWinding up petition - Held that:- The person acknowledging should have an interest which would suffer by the acknowledgement at the time it is made. There should be a jural relationship between him and the person who is making the admission. An acknowledgement by a stranger does not amount to acknowledgement of debt. This judgment would not help the respondent in view of what I have held above i.e. the Acknowledgement of debt is vide the Scheme of demerger approved on 16.12.2011 and the payment received by the petitioner on 25.1.2012. Hence, the debt is due and payable by the respondent company to the petitioner. Submission of the respondent that the products that were delivered/supplied by the petitioner were rusted and defective and hence on merit also no debt is due and payable to the petitioner is baseless keeping in view the clear cut acknowledgement made as noted above, the respondent/ the predecessor-in interest of the respondent who would not have been acknowledging the debt due if defective products have been supplied. There is no merit in the defence of the respondent. Accordingly, the petition is admitted and the Official Liquidator attached to this Court is appointed as the Provisional Liquidator. He is directed to take over all the assets, books of accounts and records of the respondent-company forthwith. The citations be published in newspapers accordingly.
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