1996 (11) TMI 331

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..... inghal, J. - All these company petitions are disposed of by this common order since the controversy involved is common. The dispute is with regard to the principal sum outstanding against Desert Inn Pvt. Ltd. which has not been paid to Swati Cement Pvt. Ltd. and Sushil Kumar and Company. In respect of S.K. Jain, N.K. Goenka and Sumati Cement Pvt. Ltd., the claim of interest only is made. The said .....

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..... ments stating that there is contradiction in the reply on behalf of the company and that they should not be allowed to be benefited for the money they had retained and should be subjected to payment of interest. It was the duty of the company to make the payment when the notice under section 434 of the Companies Act, 1956, was issued. By simply saying that the company is ready, it does not fulfil .....

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..... erest, I consider that the liability itself is disputed and there appears to be a bona fide dispute. I would not like to say more as it is open to the petitioner to file a civil suit even with regard to the liability of the interest, if any. In the proceedings for winding up if the amount is disputed one and has not been paid then the direction for winding up of the company cannot be given. In the .....

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