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2018 (12) TMI 1302 - HC - Indian LawsDishonor of Cheque - Winding up of Companies - company winded up on the ground that the Respondent companies are unable to pay its debts as and when they arise in the usual course of its business - Held that:- The learned Company Judge has found the Appellants claim to be based on manipulated accounts. The claim being for sums due at the foot of the ledger account and not for dishonour of cheques. The learned Judge has considered the cheques issued by the Respondent Companies, to be blank or given as security. The Appellants, despite these cheques being given in good faith, deposited these cheques which were dishonoured - The learned Company Judge has observed that neither any complaint nor a Suit is filed under the Negotiable Instruments Act, for the dishonour of these cheques. Thus showing the falsity of the Appellants claim. There is no perversity in the findings on facts by the learned Company Judge to conclude that no liability of the Appellants could be said to have been admitted so as to warrant admission of these Company Petitions - petition dismissed.
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