The High Court allowed a company petition under the Companies Act, 1956, holding that the respondent company was unable to pay its debts and ordered it to be wound up with the appointment of an official liquidator.
Company ordered to be wound up and Official Liquidator appointed as liquidator of the company with all its assets.
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.
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CP-243
KPP
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY PETITION NO. 243 OF 2010
Phoenix ARC Private Limited … Petitioner Versus
Paper Prints (India) Pvt. Ltd. … Respondent
Ms. S. Dhorajiwala, instructed by M/s. Vidhi Partners, for the Petitioner. None for the Respondent.
CORAM: S.J. KATHAWALLA, J. DATE: 15TH APRIL, 2015
P.C.:
CP-243
KPP 2
submissions made by the Petitioner in the Company Petition should not be accepted. The Company has not come forward to oppose the Petition.
“(a) That the Respondent Company i.e. Paper Prints (India) Private Limited, be ordered to be wound up by and under the orders and directions of this Hon'ble High Court under the provisions of the Companies Act, 1956;
(b) That the Official Liquidator attached to this Hon'ble High Court be appointed as the Liquidator of the Respondent Company i.e. Paper Prints (India) Private Limited, together with all its assets, business affairs, property, books of accounts, bank accounts, vouchers, files, documents, machinery, furniture and fixtures etc. with all powers under the provisions of the Companies Act, 1956.”
The above Company Petition is accordingly disposed of.
( S.J.KATHAWALLA, J. )
3 issues framed by the court
Whether the Company is unable to pay its debts and deserves to be wound up.
Whether the Company Petition should be allowed for winding up.
Whether the Official Liquidator should be appointed.
1 provisions across 1 enactments
Phoenix ARC Private Limited
Paper Prints (India) Pvt. Ltd.
S.J. Kathawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
