TMI Blog2018 (2) TMI 1571X X X X Extracts X X X X X X X X Extracts X X X X ..... creditors of the company (in liquidation) being the banks and financial institutions have chosen to remain outside the winding up proceeding. There is no statement in the application about the source of fund of the applicant for payment of the outstanding dues of even the creditors, at whose instance the company (in liquidation) suffered the order of winding up. The fact that there is total lack of bona fide on the part of the applicant to file the present application and to obtain the said order dated March 22, 2017 is further evident from the fact that even though in Annexure “E” to the application, it held out to pay substantial amounts to each of its creditors, at whose instance the winding-up applications had been admitted, within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By an order dated May 7, 2013 a learned Single Judge of this Court admitted the winding-up application being CP No.45 of 2013 and allowed the company, presently in liquidation to pay off the outstanding dues of the petitioning creditor therein for ₹ 30 lakhs, by ten equal monthly instalments. The company did not make payment of the entire outstanding dues of the petitioning creditor in CP No.45 of 2013 in terms of the order dated May 7, 2013 and the said winding-up application was advertised in newspapers. Even thereafter, by an order dated June 25, 2014 passed in CP No.45 of 2013 a learned Single Judge of this Court granted a further opportunity to the company to pay the outstanding dues of ₹ 22,62,356/- to the petitioning cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wards winding-up of the company (in liquidation) have been stayed. In his report, the Official Liquidator has mentioned that it has received the intimation of the statutory claims of the incometax authorities and the service tax authorities against the company (in liquidation) for the assessment years 2010-11 and 2011-12 amounting to ₹ 5,57,40,544/-. The learned Counsel appearing for the Official Liquidator has produced a copy of the Master Data of the present applicant company available in the website of the Registrar of Companies relating and submitted that out of the four directors of the applicant company, at least Amartya Dutta Gupta and Ranendra Dutta Gupta are also the exdirectors of the company (in liquidation). In his repo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing. There is no statement in the application about the source of fund of the applicant for payment of the outstanding dues of even the creditors, at whose instance the company (in liquidation) suffered the order of winding up. The fact that there is total lack of bona fide on the part of the applicant to file the present application and to obtain the said order dated March 22, 2017 is further evident from the fact that even though in Annexure E to the application, it held out to pay substantial amounts to each of its creditors, at whose instance the winding-up applications had been admitted, within six months from the date of stay of the winding-up proceeding but admittedly, not a single penny has been paid to any of the creditors in spi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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