9911796707
TMI Blog2014 (2) TMI 1356X X X X Extracts X X X X X X X X Extracts X X X X ..... It is alleged that the respondent has been unable to pay the amount due despite a notice under Section 434(1)(a) of the Act being served upon the respondent. The respondent has, pursuant to directions of this Court, filed an additional affidavit dated 31.01.2014 enclosing a copy of the trial balance disclosing the amounts owed to various banks. As per the said trial balance a sum of Rs. 7,43,90,000/- is shown as payable to the petitioner on account of Bill Purchase Account as on 31.03.2013. Similarly, a sum of Rs. 58,34,96,860/- is reflected as due and payable to the petitioner on account of ?HSBC PCFC Account No. LEANDH290100?. The learned counsel for the petitioner submits that in view of this affidavit, there could be no dispute that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner to maintain the present petition which the petitioner is entitled to ex debito justitiae. The second submission made by the respondent that there is an inter se agreement between various banks also does not offer any credible defence to the respondent. The present petition is, therefore, admitted and the petitioner is directed to issue advertisement in ?Statesman? (English) and ?Jansatta? (Hindi). The advertisement be also published in the Delhi Gazette for hearing on 22.05.2014. CA No. 257/2013 By an order dated 15.01.2013 it was directed that the interim order passed on 18.02.2013 shall operate till the disposal of the present petition. Accordingly, the present application stands disposed of. CA No. 259/2013 Exemption i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ventory lying in the said warehouses alongwith the cost of the stocks and its realisable value. The Official Liquidator after taking charges of the same will release the stocks to the management of the respondent company who shall give a weekly account of the disposal of the said stock. The Official Liquidator will be at liberty to carry out such investigation into the affairs of the company which may be necessary to ensure that the assets of the company are duly utilised for the purpose of the company. The Directors of the company shall file a Statement of Affairs within 21 days and also disclose the correct addresses of the company as well as the addresses of the Directors. It is clarified that the Directors of the company shall continu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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