2006 (4) TMI 560

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.... Sections 433 and 434 of the Companies Act, 1956 is presented by the petitioners on the basis that for the facilities which have been extended and utilised from time to time by the respondent, the amounts, which have been billed, are not paid. The communication is dated August 12, 2004 wherein, so far as four accounts are concerned, total outstanding amount is shown as ₹ 11,15,699.57. My att....

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....pondent/company so also the property in the mobile handsets vested in the petitioners. 2. Mr.Shaikh, learned counsel appearing for the respondent/company has invited my attention to the affidavit-in-reply and submitted that the claim of the petitioners was settled for a sum of ₹ 1,04,000/-at a meeting between the petitioners and the respondent, this fact is recorded in a letter dated 14th F....

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....ect the respondent to deposit substantial sum in this court and leave the petitioners to establish their claim by filing appropriate proceedings. 4. Mr.Shaikh, the learned counsel appearing for the respondent/company, states that the respondent would deposit in this Court a sum of ₹ 11,00,000/- [Rupees Elevan Lakhs only] within a period of eight weeks from today without prejudice to their r....