TMI Blog2016 (3) TMI 1253X X X X Extracts X X X X X X X X Extracts X X X X ..... is appointed as the Provisional Liquidator of the respondent-Company and is directed to take over the charge and possession of the assets of the respondent-Company and to prepare an inventory of the office premises, books of accounts and all other assets of the respondent-Company, as required by law. - Company Petition No. 313 of 2015 - - - Dated:- 30-3-2016 - Abhilasha Kumari, J. For the Petitioner : Zakirhusen M. Belim For the Respondent : Viral M. Pandya ORDER 1. This petition under Sections433 and 434 of the Companies Act, 1956 ( the Companies Act , for short) has been preferred, with a prayer to wind up the respondent-Company, namely, M/s.Cubit Tech Private Limited and to appoint the Official Liquidator attached t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and materials to the respondent-Company. As a result, the respondent-Company has become indebted to the petitioner to the tune of ₹ 53,46,987.50ps., including interest, upto June, 2015. The petitioner has annexed a copy of the Statement of Accounts/ledger, with the report of the Chartered Accountant/Auditor along with the petition. Several reminders were sent by the petitioner to the respondent-Company asking it to pay the outstanding dues, but to no avail. The respondent-Company has admitted its dues by letters dated 09.06.2015 and 04.07.2015, but has expressed its inability to pay the amount due to financial constraints. The petitioner then sent a statutory notice to the respondent-Company on 09.07.2015, calling upon it to clear the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... well, there is no denial to the debt owed by the respondent-Company to the petitioner and it is also admitted that the financial health of the respondent-Company is in the doldrums. Hence, as per the provisions of Section433( e) of the Companies Act, an order of winding up of the respondent-Company, may be passed. 6. Mr.Vishal Pandit, learned advocate for Mr.Viral M. Pandya, learned advocate for the respondent-Company states, upon instructions from Mr.Suresh Nair, Director of the respondent-Company, who is personally present in the Court today, that the respondent-Company is unable to pay the debt it owes to the petitioner-Company. 7. In view of the above facts and circumstances and as it is an admitted position that the respondent-Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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