Punjab-Haryana High Court
C & S Electric Ltd vs Sravanti Infratech Pvt.Ltd on 30 November, 2018
Author: Rajan Gupta
Bench: Rajan Gupta
IN THE HIGH COURT OF PUNJAB AND HARYANA
AT CHANDIGARH
C.P. No. 7 of 2014 (O&M)
Date of decision: 30.11.2018
C&S Electric Ltd.
.........Petitioner
Versus
Sravanti Infratech Pvt. Ltd.
.........Respondent
Coram: Hon'ble Mr. Justice Rajan Gupta
Present: Mr.Alankar Narula, Advocate
for Mr.Prateek Gupta, Advocate for the petitioner.
Mr. Deepam Raghav, Advocate for
Mr. Sachit Kumar Sahijpal, Advocate
for the respondent
RAJAN GUPTA, J. (Oral)
The present petition has been filed under section 433(e), 434(1)(a) and 439 of the Companies Act, 1956 for winding up of respondent-Company having failed to pay its debts.
Vide order dated 04.04.2014, on an undertaking given by the authorised representative of the respondent-Company, the company petition was disposed of and time was granted to the respondent-Company to pay the balance debt of Rs.1,94,37,301/- being admitted liability before 31.10.2014. However, the respondent-Company did not honour the undertaking as noticed in the order dated 04.04.2014 and as a result, the company petition was revived vide order dated 21.07.2015.
In order to give fair opportunity to the respondent to argue the matter and contest the revived winding up petition, the petition was deferred again and again. However, no one put in appearance on behalf of respondent and as result thereto, the winding up petition was admitted on 27.02.2017.
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Since the respondent-Company has not paid the admitted dues to the petitioner-Company despite having been granted enough time, therefore, the respondent-Company deserves to be wound up.
Ordered accordingly.
The Official Liquidator attached to this Court is appointed as Liquidator of respondent-Company. He is directed to take charge of assets both movable and immovable and records of respondent-Company.
The petitioner is directed to make publication of winding up of respondent-Company in the newspapers namely "Indian Express (English)"
and "Jansatta (Hindi)" both Delhi, NCR Editions and in the Official Gazette of Government of Haryana.
Petition is disposed of accordingly.
[RAJAN GUPTA] JUDGE November 30, 2018.
'Rajpal'
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