Gujarat High Court Case Information System
Print
COMP/33/2009 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 33 of 2009
=================================================
AEGIS
HEALTHCARE PRIVATE LIMITED - Petitioner(s)
Versus
ZENET
SOFTWARE LTD - Respondent(s)
=================================================
Appearance :
MR
SUDHIR M MEHTA for Petitioner(s) : 1,MS SHAILEE S MEHTA for
Petitioner(s) : 1,
MR NITIN K MEHTA for Respondent(s) :
1,
=================================================
CORAM
:
HONOURABLE
MR.JUSTICE ANANT S. DAVE
Date
: 14/03/2011
ORAL
ORDER
The
petitioner seeks winding up of the respondent Company, namely, Zenat
Software Ltd., a company registered under the Companies Act, 1956.
2. It
is the case of the petitioner that the
petitioner has given the financial facility [loan] of Rs.
1,00,00,000/- on 10.11.2008 on condition of charge of interest of Rs.
1,00,000/- for 21 days and to repay the principal amount along with
the interest on 30.11.2008, by the
Cheque No. 738924, drawn on Bank of Maharastra, Bhadra Branch,
Ahmedabad by dated 10.11.2008 which the respondent company have
deposited and encashed which is not disputed.
3. Since
the aforesaid amount was not paid, the petitioner issued a latter
dated 1st December, 2008 demanding the principal amount
along with interest. Since there was no response from the respondent,
the petitioner issued statutory notice under section 434 of the
Companies Act on 24.12.2008 at the registered Office of the
respondent Company which was duly served on 28.12.2008. The
respondent Company, however, gave no reply within or even after the
completion of statutory period of three weeks. The petitioner has,
therefore, filed this Company Petition seeking winding up of the
respondent Company.
4. Statement
of Accounts showing the total amount due and payable by the Company
as on 21/01/2009 is Rs. 1,03,51,613/-
[Principal Amount of Rs. 1,00,00,000/- and
total Interest Amount of Rs. 2,51,613. The respondent
Company, however, paid only a sum of Rs. 10,00,000/- on 25/06/2009.
Thus a sum of Rs. 93,51,613/- remained outstanding.
5. In
response to the notice issued by the Court, the respondent Company is
represented by learned advocate. On behalf of the company, a reply
has also been filed in which it is averred as under :
“6.
It is submitted that no activity on the part of the company is going
on. It is further submitted that the company is trying to arrange the
funds.”
6. The
Profit and Loss Account reflects the loss of Rs. 73,75,952/- for the
year ended 31.3.2010 and the Balance sheet reflects the accumulated
loss of Rs. 3,35,79,531/-.
7. From
the above, it is undisputed that the respondent Company owes sizable
amount to the petitioner Company which is due and payable. Despite
demand and statutory notice, there has been no response from the
respondent Company. In the affidavit filed before this Court also, it
is clearly stated that the Company is unable to pay the debt.
8. Under
the circumstances, this petition is admitted. Advertisement in two
local newspapers, namely, Indian Express and Loksatta-Jansatta,
Ahmedabad Edition shall be issued. Publication in the Government
Gazette is, however, dispensed with. Further hearing of the petition
is fixed on 4th April, 2011.
[Anant
S. Dave, J.]
*pvv
Top