Calcutta High Court
Brand Value Communications Ltd vs Elite Furniture Pvt. Ltd on 24 March, 2015
Author: Biswanath Somadder
Bench: Biswanath Somadder
ORDER SHEET
CP No.1040 of 2014
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
ORIGINAL SIDE
BRAND VALUE COMMUNICATIONS LTD.
AND
ELITE FURNITURE PVT. LTD.
BEFORE:
The Hon'ble JUSTICE BISWANATH SOMADDER
Date : 24TH March, 2015 Mr. R. L. Mitra, Advocate for petitioning creditor.
Ms. Aiman Abdullah, Ms. Saswati Chatterjee, Mr. Sujit Singh, Ms. N. Das, Advocates for the company.
The Court : Having heard the learned advocates for the parties and from the averments made in the instant winding up petition and from the statutory notice dated 29th September, 2014, it appears that a sum of Rs.15,07,785/- is due and payable to the petitioning creditor by the company. The statutory notice was duly served upon the company, but was not replied to. As such, there is a presumption of acknowledgement of debt by the company and its inability to pay off the debt.
C.P.1040 of 2014 is, therefore, admitted for a principal sum of Rs.15,07,785/- together with interest thereon at the rate of 6% per annum to be calculated from the date of the statutory notice till actual payment. 2
If the company pays off the entire amount together with interest within a period of four weeks from date, the instant petition will remain permanently stayed. In default, the winding up petition will automatically stand revived and will be advertised once in "The Statesman" and once in "Bartaman". In the advertisements to be published in the said two newspapers, it shall be indicated therein that the matter will appear before this Court under the same heading, three weeks from the date of the advertisements. Publication in the Official Gazette, however, will stand dispensed with.
C.P.1040 of 2014 is accordingly disposed of.
Urgent photostat certified copy of this order be supplied to the parties, if applied for, upon compliance of all requisite formalities.
(BISWANATH SOMADDER, J.) pa