TMI Blog2016 (7) TMI 765X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 550 crores dues payable to the depositors in near future. Seeing the developments so far taken place in this case, this Bench is of the opinion that this company would not be in a position to repay the depositors even it further time is extended; therefore this Bench, for having the company defaulted complying with the order dated 11-3-2016, dismissed the petition leaving it open to the depo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owing six months starting from 1-2-2016 till 30-9-2016, to the depositors who have invested up to ₹ 25,000, ₹ 50,000 and ₹ 1,00,000 and Whose deposits have matured up to 31-3-2016 as per the original date of maturity. When this Bench did not agree for the same, the MD filed another affidavit on 11-3-2016 undertaking to repay ₹ 30 crores in three equal instalments, ₹ 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Committee on 15-7-2015 to generate funds by selling the properties of the company but no progress has taken place in selling the properties of the company. 5. When this petitioner company could not repay ₹ 30 crores of money in the time given by this Bench as asked by the company on 11-3-2016, it could not be possible for the company to clear ₹ 550 crores dues payable to the depo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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