9911796707
TMI Blog2011 (4) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... learned counsels for the parties. 2. This petition is filed by the petitioner under the provisions of sections 433 and 434 of Companies Act, 1956 with a prayer to order winding up of respondent Company namely Zenat Software Ltd. It is the case of the petitioner that the petitioner has given the financial facility [loan] of Rs. 1,00,00,000 on 10-11-2008 on condition of charge of interest of Rs. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dues but no reply was received. Thereafter, out of that, Rs. 10,00,000 was paid on 25-6-2009. The Company has neglected to pay any amount as demanded by the above notice. It is therefore, submitted that when the respondent Company has failed and neglected to pay and clear the dues of the petitioner within the statutory period of 21 days, the Company is deemed to be unable to pay the debts in norm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner company and inspite of service of statutory notice under section 434. The respondent Company, however, gave no reply within or even after the completion of statutory period of three weeks. The petitioner has, therefore, filed this Company Petition seeking winding up of the respondent Company and the details of the petitioner Company are admitted. 6. In response to the notice issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unable to pay the debt. 9. The petitioner has complied with directions issued by this Court vide order dated 14-3-2011 and while admitting the petition and has also published the notice in a two daily newspapers and accordingly the affidavit dated 1-4-2011 is filed. Thereafter also there is no willingness on the part of the respondent Company to pay the dues. It appears that the Company is unabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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