says this is a
'debt' within the meaning of Sections 433 and 434 of the
Companies Act, 1956. Treasure World contends that ... This was not, it must be noted, a demand under
Sections 433 and 434 of the Companies Act, 1956.
8. Treasure World replied
debt'
due and payable by it within the meaning of Section 433(e) of the
Companies Act, 1956? This is the issue in this ... Section 13 of the CPC. It is not
possible to hold that there is any debt due within the meaning of
Section 433 and Section
hereinafter referred to as "the company") wound up under
section 433 (f) of the Companies Act, 1956 on the ground that ... relevant
only if the petition is filed under section 433(e) i.e. where the
company is unable to pay its dues.
48. Mr. Madon
which travel well beyond those common in a petition under
sections 433 and 434 of the Companies Act, 1956 by a petitioning-
creditor ... Company Petition No. 857 of 2004 on 22nd September
2004 under Section 433 (f ) of the Companies Act, 1956 . It sought
the winding
liability upon him or his property.
(7) In this section and in Section 433 , the expression
"appropriate Government" means,--
(a) in cases where ... subject to the procedural
checks in that Section and the substantive check
in Section 433-A of the Cr.P.C.
75. In a sense
just
cause and despite the service of a statutory notice under sections
433 and 434 of the Companies Act, 1956, the Company should be
ordered ... neglect to pay" within the meaning of Section
434(1)(a) read with Section 433(e) . A winding up on the ground that
just
cause and despite the service of a statutory notice under sections
433 and 434 of the Companies Act, 1956, the Company should be
ordered ... neglect to pay" within the meaning of Section
434(1)(a) read with Section 433(e) . A winding up on the ground that
considered the bar to suit carved out in
identical terms by Section 433-A of the Maharashtra Municipal
Corporations Act. The learned Single Judge applied ... transgression of authority, would not be barred.
7. Now, section 433-A of the Maharashtra Municipal
Corporations Act creating a bar of jurisdiction
cannot be "neglect to
pay" within the meaning of Section 433(1)(a) of the
Companies Act, 1956. If there is no neglect ... neglect to
pay" so as to incur the liability under Section 433(e) read
with Section 434(1)(a) of the Companies
cannot be "neglect to
pay" within the meaning of Section 433(1)(a) of the
Companies Act, 1956. If there is no neglect ... neglect to
pay" so as to incur the liability under Section 433(e) read
with Section 434(1)(a) of the Companies
