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2018 (4) TMI 731

refusing to pay. Respondent company is hence unable to pay its debt. - Keeping in view the above, the petition is admitted and the Official Liquidator attached to this Court is appointed as the Provisional Liquidator. He is directed to take over all the assets, books of accounts and records of the respondent-company forthwith. The citations be published in the Delhi editions of the newspapers “Statesman” (English) and "Veer Arjun" (Hindi), as well as in the Delhi Gazette, at least 14 days prior to the next date of hearing. - CO.PET. 526/2012 - Dated:- 4-4-2018 - MR. JAYANT NATH J. Petitioner Through Mr. T.K. Tiwari, Adv. Respondent Through Mr. Vikas Agarwal, Ms. Shaili Pande and Mr. Amir, Advs. JAYANT NATH, J.(ORAL) 1. This petition is .....

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correct calculation in view of wrong statements made regarding the weight and density of the steel. The weight of steel which has been supplied is overstated in the bill. In such manner the rates are said to be overstated and excessive in several bills and are not in terms of the order placed. 3. I have heard learned counsel for the parties. Learned counsel for the petitioner has pointed out to Annexure D filed by the respondents themselves which is the Statement of Taxable Income filed for income tax purpose for the Assessment Year 2012-13. It has been pointed out that in the list which is attached to the Statement of Taxable Income under the heading Trade Payable on 31.3.2012 a sum of ₹ 13,23,057/- is shown as outstanding and payabl .....

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be outstanding on the basis of which the petitioner was claiming the sum of ₹ 25,05,676/- were stated. The respondent have duly received this notice. They have admitted so in their communication dated 10.7.2012. However, no reply to this legal notice was ever sent. Same is the fate of the subsequent statutory notices that were sent on 10.9.2012 by the petitioner. 7. I may also note that the defence of the respondent pointing out alleged defects in the bill appear to be only an afterthought inasmuch as these have been stated for the first time when their reply was filed to this petition. Nowhere in the reply it is pleaded that any communication was sent to the petitioners pointing out defects in the goods supplied or the fact that the .....

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the plaintiff therein that when the plaintiff had instituted the company petitions, the period of limitation had not expired. Therefore, the petitioner sought exclusion of the time taken in prosecution of the winding up petitions under Section 14 of the Limitation Act. This court held as follows:- 17. .... In view of the foregoing discussions, it is held that the plaintiff is not entitled to the benefit of exclusion of time during which the winding up petitions relating to each of the five suits were pending for the purposes of computing the limitation for the suits instituted by the plaintiffs. The essential conditions of Section 14 of the Limitation Act are not fulfilled, as discussed earlier. The winding up petitions having been dismiss .....

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s of ₹ 13,23,057/- refusing to pay. Respondent company is hence unable to pay its debt. 12. Keeping in view the above, the petition is admitted and the Official Liquidator attached to this Court is appointed as the Provisional Liquidator. He is directed to take over all the assets, books of accounts and records of the respondent-company forthwith. The citations be published in the Delhi editions of the newspapers Statesman (English) and Veer Arjun‟ (Hindi), as well as in the Delhi Gazette, at least 14 days prior to the next date of hearing. Costs of ₹ 75,000/- will be paid by the petitioner for the publication. The Official Liquidator shall also endeavour to prepare a complete inventory of all the assets of the respondent- .....

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