Disposed

Arntz Gmbh Company Kg v. Rajasthan Udyog and Tools Ltd.

Bombay HC12 Feb 2009CP/1013/2008

Case brief

AI extract

What is this about?

This brief judgment is an interlocutory order in a winding-up petition. The High Court found no valid defense as the respondent admitted liability but cited inability to pay. To allow a final chance for settlement, the court directed the company to pay the admitted debt within four weeks. If unpaid, the petition shall be admitted and advertised. Relief details are contained within the operative or

What did the court decide?

Ordered the respondent company to pay the admitted debt of Rs.13,37,424/- with interest within four weeks. On default, the winding-up petition stands admitted for advertisement.

Arntz Gmbh Company Kg Vs Rajasthan Udyog and Tools Ltd. — Banking and Recovery | Bombay HC (2009)

¶1

 : 1 :

¶2

 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
 ORDINARY ORIGINAL CIVIL JURISDICTION

¶3

 COMPANY PETITION NO.1013 OF 2008

¶4

 ARNTZ GMBH + COMPANY KG. ....Petitioner
 V/s.
 Rajasthan Udyog & Tools Ltd. ....Respondent

¶5

 Mr.Darshan Mehta i/b M/s.Dhruve Liladhar &Co. for the
 Petitioner.

¶6

 None for the Respondent.

¶7

CORAM : S.J. VAZIFDAR, J.
DATED : 12TH FEBRUARY, 2009.

¶8

P.C. :

¶9

 1. This is a Petition for winding up of the

¶10

 Respondent company on the ground that the company is
 unable to pay its debts. According to the Petitioner,
 the company is indebted to it in the sum of about
 Rs.13,37,424/-. There is no affidavit in reply.
 There is no reply to the statutory notice dated
 26.5.2008. In fact in the letter dated 12.2.2008, the
 company has admitted the liability but expressed its
 inability to pay its debts.

¶11

 2. In the circumstances, there is no defence.

¶12

 However, with a view to give the company one more
 chance, the following order is passed :-

¶13

 i). In the event of the Company paying the

¶14

 : 2 :

¶15

 Petitioner a sum of Rs.13,37,424/- with interest
 thereon at the rate of 12% p.a. from 26.5.2008 till
 payment within four weeks from the date of the company
 being served by the Petitioner of a copy of this
 order, the Company Petition shall stand dismissed.

¶16

 ii). In case of failure on the part of the Company
 to pay the amount as aforesaid, the Petition shall
 stand admitted and to be advertised in Free Press
 Journal, Maharashtra Times and Maharashtra Government
 Gazette. In that event the Petitioner to deposit an
 amount of Rs.10,000/- with the Prothonotary and Senior
 Master of this Court within four weeks from the date
 of default.

Arntz Gmbh Company Kg v. Rajasthan Udyog and Tools Ltd.

Case brief

What is this about?

What did the court decide?

Arntz Gmbh Company Kg v. Rajasthan Udyog and Tools Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

The Mihishad B Co-Op Housing Society Ltd. Vs the Deputy Registrar Co-Op Housing Society and 5 Ors.

Hitesh P. Shah of M/S. Sea Bird Restaurant and Bar Vs State of Maharashtra and 4 Ors.

Devdatta Jamnadas Patel Vs State of Maharashtra and 3 Others

Leonie D'Silva Vs the Official Liquidator of M/S. Chemiequip Ltd. (in Liqn.)

Uco Bank Vs the Official Liquidator of M/S. Glass Carboys and Presedwares Ltd. (in Liqn.).

Babu Fakirappa Naikar Vs the Official Liquidator of M/S. W.G. Forge (in Liqn.)