Calcutta High Court
Precision Engineering & Fabricators ... vs Unknown on 7 February, 2018
Author: Ashis Kumar Chakraborty
Bench: Ashis Kumar Chakraborty
1
O 76
CP 487 of 2016
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
ORIGINAL SIDE
IN THE MATTER OF :
PRECISION ENGINEERING & FABRICATORS PVT. LTD.
AND
IN THE MATTER OF :
DADHIBAL SHAW
BEFORE:
The Hon'ble JUSTICE ASHIS KUMAR CHAKRABORTY
Date : 7th February, 2018.
Mr. Rajratna Sen,Advocate appears.
Mr. S.Basu,Advocate appears.
Mr. Pramod Bajoria,Advocate appears.
Mr. Sukrit Mukherjee,Advocate appears.
Mr. S.R.Kakrania,Advocate appears.
Mr. Sanjeeb Seni,Advocate appears.
Ms. Ritika Shroff,Advocate appears.
Mr. Debrup Bhattacharjee,Advocate appears.
Mr. P.K.Tulsyan,Advocate appears.
The Court :- This application under Section 433(e) of the Companies Act, 1956 is appearing after advertisement.
By an order dated March 23, 2017, the winding up application at the instance of the petitioning creditor was admitted for Rs. 40,74,610/- together with interest thereon at the rate of 9 per cent per annum, 2 after expiry of 60 days from the date of receipt of the invoices, till the date of the order and further interest at the said rate.
In terms of the direction in the said order dated March 23, 2017 the petitioning creditor caused advertisement of the winding up application once in an English newspaper namely, "The Statesman" and once in a Bengali newspaper namely, "Bartaman". Thereafter when the application was taken up for hearing on June 21, 2017, the parties were directed to file their respective affidavits in the application.
However, today when this application is taken up for hearing, it appears that the company has not even filed any affidavit to oppose the prayer of winding up or to show its ability to pay the dues of the petitioning creditor or the other supporting creditors. Under the circumstances, this Court has no option to come to a conclusion that the company is in involved circumstances and is unable to pay its dues under Section 433(e) of the Companies Act, 1956.
Accordingly, there shall be an order in terms of prayers (a) and (b) of the application. The Official Liquidator is directed to forthwith take possession of the assets and properties of the company, including the affairs of its business and to proceed with the proceeding in the winding up of the company.
There shall, however, be no order as to costs.
Urgent certified website copies of this order, be made available to the parties subject to compliance with all requisite formalities.
(ASHIS KUMAR CHAKRABORTY, J.) S.Chandra