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2016 (4) TMI 46 - KARNATAKA HIGH COURT

2016 (4) TMI 46 - KARNATAKA HIGH COURT - TMI - Winding up petition - Held that:- As regards admission of the debts by the appellant-company payable to the respondent-company, the learned company judge has placed reliance on the agreement between the two companies dated February 24, 2012, whereby the appellant-company has acknowledged an outstanding of US $ 56,16,024.12 plus accrued interest after January 31, 2012. Admittedly the said amount has not been paid within the time provided in the said .....

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Bank of India. In view of the fact that we have already held above that the appellant has not been able to place any material on record to show that the respondent-company has any office (be it a site office or project office or warehouse or store house) within the territory of India, the provisions of the Regulations of 2000 would not be applicable. No good ground to interfere with the order of admission passed by learned company judge. - OSA NO.20/2014 - Dated:- 15-7-2015 - MR. VINEET SARAN AN .....

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y due to be paid by the appellant-company to the respondent-company for which an agreement was entered into between the two companies on February 24, 2012, whereby the appellant-company had acknowledged its liability to pay the outstanding amounts in instalments spread over several months between March and October, 2012. The appellant contested the matter by denying its liability to pay the said dues, on the ground that the same were disputed dues and it also raised an objection that since the r .....

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posted for hearing on the question of advertisement of the petition. Challenging the said order of admission of the company petition, this appeal has been filed. 3. We have heard Sri S. V. Rajesh, learned counsel for the appellant as well as Sri S. S. Naganand, learned senior counsel along with Sri A. C. Achappa, learned counsel for the respondent and perused the records. 4. To support his contention that the respondent-company is carrying on business activities in India, learned counsel for the .....

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lant has vehemently contended that the company is carrying on business in India. However learned counsel has not been able to show any document in support of his contention that the respondent-company is having any office, warehouse, store house, etc., within the territory of India or any of its employees are permanently posted in India. The documents on which learned counsel for the appellant has relied upon only goes to show that the respondent-company provides technical service in India by pr .....

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elied upon the decision of the Delhi High Court rendered in the case of M/s.Dabur (Nepal) Pvt. Limited Vs M/s.Woodworth Trade Links Pvt. Limited reported in (2012)175 Comp. cases 338 to support his contention that if a company has an office or establishment within the territory of India it would have to comply with the provisions of sections 592 to 594 of the Companies Act. On facts, the said decision would not be applicable as in the said case the company in question was a subsidiary of an Indi .....

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