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2016 (11) TMI 1072 - RAJASTHAN HIGH COURT

2016 (11) TMI 1072 - RAJASTHAN HIGH COURT - TMI - Winding up petition - Held that:- None has appeared for hearing following the admission. The respondent company is under an undischarged debt of the petitioner company having neglected to discharge its admitted debt as reflected in its balance sheet despite a statutory notice and is thus deemed to be insolvent. No dispute what of bonafide dispute obtains. - The respondent company Golden Future Fertilizer Limited is directed to be wound up. Th .....

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s papers i.e. The Times of India (English) Delhi Edition and Dainik Bhaskar (Hindi) Jaipur Edition in terms of Rule 24 of the Companies (Courts) Rules, 1959. - S.B. Company Petition No. 23/2013 - Dated:- 4-11-2016 - Alok Sharma, J. For the Petitioner : Ashish Tiwari For the Respondent : None ORDER The case of the petitioner company is that a loan agreement was signed between it and the respondent company Golden Future Fertilizer Limited on 20-5-2011. Following the agreement, a sum of ₹ 1.5 .....

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e loan agreement was to be repaid at the end of twelve months with interest at the rate of 9% per annum. As a collateral security the respondent company deposited original title deeds of immovable property with the petitioner company. The properties were (i) Khasra No.987 measuring 0.08 hectare, Tehsil Sanganer, near Gazi Baba ki Dhani District Jaipur and (ii) Industrial land G-1-30, G-1-31, G-1-32, G- 1-33, G-1-34, G-1-35, G-1-36 and G-1-27 situate at Industrial Area, Sanwar Udaipur. In fact th .....

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