stating among other things that only seven creditors have joined the petition. According to him, the amount alleged to be due to them is not correct, details shown in the deposit receipts, Annexures A to M are not supported by documents, that the claim is frivolous and not based on any substance, that he did not receive any notice as Annexure N that the petition is bad for the mandatory requirement under Section 434(1)(e) (sic) of the Act. It was also stated that the company has sufficient asset such as immovable properties situated in prime locations and it is making earnest efforts to dispose of the property and raise funds, in the meantime, if winding up is ordered, that would adversely affect the interest of creditors. According to him, the petitioners did not make out a prima facie case. In the penultimate paragraph, he prayed for dismissing the company petition and in the alternative, to provide sufficient time to the company for at least one year for raising funds for clearing the liabilities, till such time winding up may not be ordered. The counter affidavit was filed on 01.01.2013.
