TMI Blog2017 (6) TMI 1268X X X X Extracts X X X X X X X X Extracts X X X X ..... he minutes which is produced on record by Mr. Parth Contractor, learned counsel appearing for the respondent Company shows that the respondent Company is in financial doldrums and it is also quite evident from the submission made by Mr. Soparkar, learned advocate appearing for the petitioner that even the RBI has directed the Banks to take action against the respondent Company. The ground that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mal Patel and Mr. Suren B. Patel and Mr. Parth Contractor, learned advocate for the respondent. 2. By this petition under section 433, 434 and 439 of the Companies Act, the petitioner has prayed for winding up of the company known as ABG Shipyard Ltd. 3. Having heard the learned counsel appearing for the parties, it appears that during the course of business transaction, the respondent Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s orders that have been passed till now in this matter. The record indicates that an attempt was made by the learned counsel appearing for the parties to resolve the issue and this Court was apprised about the fact that the compromise/settlement is likely to be worked out. However, ultimately, no compromise has been worked out. Mr. Sanjanwala, further relied upon the newspaper report and has conte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppearing for the petitioner has submitted that the respondent has selectively paid to some creditors and are likely to dispose of the properties of the Company. 8. Considering the submissions made and considering the fact that the statutory notice was issued way back on 28.04.2016, which has not been even replied by the respondent Company and even the notice of this Court was served in the mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Hence, Admit. The order of advertisement is differed till the next date of hearing to give one more opportunity to the respondent. The petition is fixed for hearing on 18.07.2017. 10. Mr. Parth Contractor, learned counsel appearing for the respondent submitted that this order be stayed for a period of six weeks to enable the respondent Company to challenge the same. The said request is reject ..... X X X X Extracts X X X X X X X X Extracts X X X X
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