TMI Blog2013 (4) TMI 108X X X X Extracts X X X X X X X X Extracts X X X X ..... to pay its undisputed debts and has chosen neither to dispute the debt, assail the judicial order nor contest this petition. There is no other equally efficacious remedy available with the petitioner and that in the facts and circumstances of the case and background, it would be just equitable for the Company to be wound up. Under the facts and circumstances, the respondent-Company is ordered to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as yet not chosen to contest the same. Accordingly, on 24.5.2012, the petition was posted for hearing. 2. The petitioner is a Company with limited liabilities, having its registered office at Navi Mumbai. The respondent is a private limited Company having its works and establishments within the territorial jurisdiction of this Court. To establish its industrial unit, the respondent entered into ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due to the bank from the respondents. Out of this amount, during the pendency of this petition or till its decision, the petitioner bank is entitled to receive interest @ 16.5% on Rs.1,20,445% towards term loan facility and interest @ 17.25% per annum with quarterly rests on remaining loan amount towards cash credit facility. In future, the petitioner bank shall be entitled to receive intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. It is seen that in terms of the judicial order passed in favour of the petitioner, the respondent has to undisputedly pay a debt of a sum of Rs. 7,34,26,386.14 paise as on 30.3.2007. The respondent has chosen neither to dispute the debt, assail the judicial order nor contest this petition. There is no other equally efficacious remedy available with the petitioner. 5. Consequently, this pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assets and liabilities of the Company and defray the debt in accordance with law, including issuance of publication of notice of winding up in the daily newspapers i.e. The Tribune and Himachal Dastak, circulated in the State of H.P., as also the H.P. Rajpatra. With the aforesaid observations, the present petition stands disposed of, so also the pending application(s), if any. - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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