9911796707
TMI Blog2014 (7) TMI 1394X X X X Extracts X X X X X X X X Extracts X X X X ..... any registered under the Companies Act, 1956 having registered office at 3rd Floor, Salgaonkar Center, Rua De Ourem, Panaji Goa. It is the contention of the petitioner that the respondent has placed a work order with the petitioner for detail design, engineering and consultancy services for the total raw water conveyance system. It is further the case that such order was placed on 13.09.2011 with the petitioner and thereafter on 31.10.2011 and 12.06.2012 the respondent placed another work orders for detail design, engineering and consultancy services. Thereafter, subsequent work orders were issued on 17.01.2013 and 25.01.2013. On 14.09.2011, the petitioner initiated the work in pursuance of the work order dated 13.09.2011. Subsequently, on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... informing that in the event of their failure to pay the dues, the petitioner will initiate appropriate legal proceedings for winding up after three weeks from the date of receipt of the said notice by the respondent. The respondent was also informed to treat the said demand notice as a statutory notice under Section 434 of the Companies Act, 1956. Despite of the receipt of such notice, it is the contention of the petitioner that the respondent failed to comply to the demand or reply to the said notice. It is further their case that as there is failure to pay the money due the respondent is deemed to unable to pay the dues to the petitioner. Accordingly, it is the contention of the petitioner that the respondent is indebted to pay to the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee or order of any Court in favour of a creditor of the company is returned unsatisfied in whole or in part; or (c) if it is proved to the satisfaction of the Court that the company is unable to pay its debts, and, in determining whether a company is unable to pay its debts, the Court shall take into account the contingent and prospective liabilities of the company. (2) The demand referred to in clause (a) of sub- section (1) shall be deemed to have been duly given under the hand of the creditor if it is signed by any agent or legal adviser duly authorised on his behalf, or in the case of a firm, if it is signed by any such agent or legal adviser or by any member of the firm." Considering the said provisions, the non payment of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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