The High Court of Bombay allowed a company petition seeking winding up of M/s. Triangular Infocom Limited due to its insolvency and failure to comply with statutory notice demands regarding unpaid loans.
Winding up of the company and appointment of an Official Liquidator.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Nitin
922-CP-299-2013
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 299 OF 2013
M/s. Juhu Beach Real Estates Private Limited … Petitioner
Versus
M/s. Triangular Infocom Limited
(earlier known as Lexusinfotech Limited)
… Respondent
Mr. Mahendra Agavkar a/w. Mr. Vikas K. i/b. Rajesh Gehani for the Petitioner.
None for the Respondent.
CORAM : S.J. KATHAWALLA, J. DATE : 8 TH OCTOBER, 2014
P.C. :
2 922-CP-299-2013
Nitin
“4. The Company’s advocates have entered appearance on 26th July 2013. Till date there is no affidavit in reply. On 5th February 2014, I passed the conditional order requiring the Company to pay costs of Rs.10,000/- as a condition precedent to the filing of an affidavit in reply. That reply was to be filed on or before 17th February 2014. Six weeks later, yet there is no compliance of that order. The costs have not been paid. No affidavit in reply has been filed. None appears for the Company today. There is no reply to the petitioner’s advocates’ statutory notice.
5. There is no defence whatever to the petition, let alone one that could be said to be substantial or bona fide. The Company not having complied with the petitioners’ lawful demand as
3
922-CP-299-2013
Nitin
contained in its advocates’ statutory notice, it must be deemed to be unable to pay its debts within the meaning of the Companies Act, 1956.”
“(a) that the Company M/s. Triangular Infocom Limited (formally known as M/s. Lexusinfotech Ltd.) having CIN. U74999MH1998PLC11645 registered
Nitin
922-CP-299-2013
4
under the provisions of the Companies Act, 1956, having its Registered Office at CS-1, Silver Anklet, Yari Road, Versova, Andheri (W), Mumbai-400061, be wound up by and under the directions of this Honourable Court under the provisions of the Companies Act, 1956;
(b) that the Official Liquidator be appointed the Liquidator of the Company to take charge of the assets, books of account and properties of the Company with all powers under the provisions of the Companies Act, 1956”.
( S.J.KATHAWALLA, J. )
1 issue framed by the court
Whether the company is unable to pay its debts within the meaning of the Companies Act, 1956.
1 provisions across 1 enactments
M/s. Juhu Beach Real Estates Private Limited
M/s. Triangular Infocom Limited
S.J. KATHAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
