TMI Blog2016 (11) TMI 1072X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. The Official Liquidator is appointed as Liquidator of the respondent company under Section 448 of the 1956 Act. He shall take steps to take possession of the immovable and movable assets of the respondent company, if not so already ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as agreed was advanced to the respondent company under three cheques (i) 862 dated 21-5-2011 for ₹ 52,00,000/- (ii) 857 dated 30-5-2011 for ₹ 51,00,000/- and (iii) 858 dated 6- 6-2011 for ₹ 51,00,000/- all drawn on Axis Bank, Vaishali Nagar, Jaipur favouring the respondent company. The cheques were encashed in the respondent company's account maintained with the ICICI Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned unpaid despite statutory notice. No reply to the company petition was filed despite service of notice by publication under Order 5 Rule 20 CPC. In the aforesaid circumstances, considering the enunciation of law by the Apex Court in the case of Vijay Industries Vs. NATL Technologies Limited [(2009)2 SCC 527] with regard to winding up petition, this petition was admitted on 29-4-2015 and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... teps to take possession of the immovable and movable assets of the respondent company, if not so already done. The Directors of the respondent company are directed to file statement of affairs of the respondent company before the Official Liquidator as statutorily required. The citation of winding up of the respondent company be published by the petitioner in two news papers i.e. The Times of I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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