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TMI Blog2018 (7) TMI 1858X X X X Extracts X X X X X X X X Extracts X X X X ..... Reetobroto Mitra, Adv. Mr. Sakya Sen, Adv. Mr. Rudrajit Sarkar, Adv. Mr. Priyankar Saha, Adv. Mr. Jayanta Kr. Mitra, Sr. Adv. Mr. Tilak Kr. Bose, Adv. Mr. S. K. Chakraborty, Adv. Mr. Indradeep Basu, Adv. Mr. Ramanuj Roy Chowdhury, Adv. Mr. Shyamal Sarkar, Sr. Adv. Mr. R. A. Agarwala, Adv. Mr. D. N. Sharma, Adv. Ms. Manju Bhuteria, Adv. Mr. Rajesh Kr. Gupta, Adv. Mr. Ramesh Dhara, Adv. Ms. Nibedita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions) Act, 1985. Such fact was brought to the notice of the company Court and, by an order dated October 13, 2015, the creditor's winding-up petition was adjourned till March, 2016 and, subsequently, it was adjourned sine die. In view of the embargo under Section 22(1) of the said Act of 1985, the creditor's windingup petition could not be pursued, though its institution could not be questioned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioning-creditor and the company regarding further payment to be worked out; but the company ultimately failed to discharge its debt and the petitioning-creditor pressed and obtained an order for the company to be wound up. The State Bank as secured creditor of the company complained to the company Court that in the light of the company petition having been adjourned sine die, which deprived th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed for a substantial period of time, a fresh advertisement should have been directed to be published before the matter was considered at the post-advertisement stage. The company Judge cannot be faulted for such perception, since creditors of a company have a say at the post-advertisement stage and the company Judge has the discretion to not wind up the company despite its proven indebtedness to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y. The petitioning-creditor will cause advertisements to be published in the same newspapers in which the original advertisements had been published, indicating that the company petition will appear before the company Court on the first available working day two weeks after the date of the publication. The publication of the advertisements has to be simultaneous in the newspapers on a date within ..... X X X X Extracts X X X X X X X X Extracts X X X X
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