Allowed

M/S.Star Wood Merchantile Co.Pvt.Ltd. v. M/S.Columbus Trades Ltd, Cin NO.U99999MH1997PLC109665

Bombay HC8 Apr 2015CP/212/2013

Case brief

AI extract

What is this about?

The Bombay High Court allowed the petitioner's company petition seeking to wind up the respondent company. The court was satisfied of the company's commercial insolvency and inability to pay debts after notice waiver.

What did the court decide?

Company petition allowed; winding up order directed; Official Liquidator to act forthwith.

M/S.Star Wood Merchantile Co.Pvt.Ltd. Vs… — Insolvency and Bankruptcy | Bombay HC (2015)

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cp 212 of 2013 (929).sxw

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

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COMPANY PETITION NO.212 OF 2013

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M/s. Star Wood Mercantile Co. Pvt. Ltd. … Petitioner versus M/s. Columbus Trades Ltd. … Respondent

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Mr. R.S.Shekhawat, for Petitioner.

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Mr. Anand Mishra i/by Mr. A.M.Saraogi, for Respondent.

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CORAM: S.J. KATHAWALLA, J.

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DATE: 8^th APRIL, 2015

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P.C .

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By the above Company Petition, the Petitioner seeks winding up of the Respondent Company – M/s. Columbus Trades Ltd. ( the Company), on the ground that the Company is unable to pay its debts. The Company Petition is taken up for hearing and final disposal.

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This Court by its order dated 29-11-2013 after recording therein that the Company has by its letter dated 26^th December 2012 admitted its liability qua the dues of the Petitioner and has admitted that it is unable to pay the same, admitted the above Company Petition and directed the same to be advertised. Pursuant to the said order dated 29^th November, 2013, the Company Petition was advertised and an Affidavit of publication dated 20-032015 is on record.

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ssp

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cp 212 of 2013 (929).sxw

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Today, when the above Company Petition is taken up for hearing, the learned Advocate for the Company waives notice under Rule 28 of the Companies (Court) Rules, 1959 and submits on instructions, that the Company is unable to pay the dues of the Petitioner. In the circumstances, I am satisfied that the Company is unable to pay its debt, is commercially insolvent and deserves to be wound up. The Company Petition is therefore, allowed in terms of prayer clause (a), which is reproduced hereunder :

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“(a) that the Company M/s. Columbus Trades Ltd, be wound up by an order and direction of this Hon'ble Court under the Companies Act, 1956;

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The Official Liquidator shall forthwith act on a copy of this order without waiting for any Notification.

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The Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

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M/S.Star Wood Merchantile Co.Pvt.Ltd. v. M/S.Columbus Trades Ltd, Cin NO.U99999MH1997PLC109665

Case brief

What is this about?

What did the court decide?

M/S.Star Wood Merchantile Co.Pvt.Ltd. v. M/S.Columbus Trades Ltd, Cin NO.U99999MH1997PLC109665

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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