{"id":192413,"date":"2010-10-11T00:00:00","date_gmt":"2010-10-10T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/monaj-vs-crystal-on-11-october-2010"},"modified":"2017-10-12T20:39:57","modified_gmt":"2017-10-12T15:09:57","slug":"monaj-vs-crystal-on-11-october-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/monaj-vs-crystal-on-11-october-2010","title":{"rendered":"Monaj vs Crystal on 11 October, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Monaj vs Crystal on 11 October, 2010<\/div>\n<div class=\"doc_author\">Author: M.R. Shah,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nCOMP\/215\/2006\t 3\/ 6\tJUDGMENT \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCOMPANY\nPETITION No. 215 of 2006\n \n\n \n \nFor\nApproval and Signature:  \n \nHONOURABLE\nMR.JUSTICE M.R. SHAH\n \n \n=========================================================\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n1\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tReporters of Local Papers may be allowed to see the judgment ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n2\n\t\t\n\t\t \n\t\t\t \n\nTo be\n\t\t\treferred to the Reporter or not ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n3\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\ttheir Lordships wish to see the fair copy of the judgment ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n4\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tthis case involves a substantial question of law as to the\n\t\t\tinterpretation of the constitution of India, 1950 or any order\n\t\t\tmade thereunder ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n5\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tit is to be circulated to the civil judge ?\n\t\t\n\t\n\n \n\n \n=========================================================\n\n \n\nMONAJ\nK. SHAH - Petitioner(s)\n \n\nVersus\n \n\nCRYSTAL\nWATCHES LTD. - Respondent(s)\n \n\n=========================================================\n \nAppearance\n: \nMR\nVIMAL M PATEL for\nPetitioner(s) : 1, \nMR PAVAN S GODIAWALA for Respondent(s) :\n1, \n=========================================================\n\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE M.R. SHAH\n\t\t\n\t\n\n \n\nDate\n: 01\/05\/2007  \nORAL JUDGMENT<\/pre>\n<p>\t\tPresent<br \/>\nCompany Petition has been filed by the petitioner under Sections 433<br \/>\nand 434 of the Companies Act, 1956 for an appropriate order of<br \/>\nwinding up of the Company, Crystal Watches Ltd.,.\n<\/p>\n<p>2.\t\tIt<br \/>\nis the contention on behalf of the petitioner that the petitioner has<br \/>\nlet out the premises at 407, Ashwamegh House 5, Smruti Kunj Society,<br \/>\nNavrangpura, Ahmedabad and the respondent company is in possession of<br \/>\nthe said premises; that lease amount\/rent to the extent of Rs.<br \/>\n2,68,800 is due and payable by the respondent; and inspite of<br \/>\nrepeated requests and demands the respondent Company has neglected<br \/>\nand failed to pay the aforesaid amount to the petitioner.  It is<br \/>\nfurther submitted that as the said amount was not paid the petitioner<br \/>\nwas required to serve a statutory notice upon the respondent Company<br \/>\nas required under Section 434 of the Companies Act, 1956 and inspite<br \/>\nof the service of said statutory notice the respondent company has<br \/>\nneglected and failed to make payment within 21 days and therefore<br \/>\nstatutory presumption can be raised that the respondent company is<br \/>\nunable to pay the debts.  Therefore it is requested to allow the<br \/>\npresent Company Petition and to pass an appropriate order of winding<br \/>\nup of the respondent company, Crystal Watches Ltd.\n<\/p>\n<p>3.\t\tWhile<br \/>\nadmitting the present Company Petition, this Court passed a detailed<br \/>\norder observing that the respondent Company had replied to the<br \/>\nstatutory notice in which the company has never disputed the amount<br \/>\npayable.  However, the only submission  made was that they are facing<br \/>\nfinancial crisis and as soon as the financial position improves the<br \/>\npayment will be made.  This Court also observed that the said reply<br \/>\nwas dated 31st March 2006 and more than one year has<br \/>\npassed thereafter but the respondent Company has not paid any amount<br \/>\nto the petitioner.  This Court  also observed that in the<br \/>\naffidavit-in-reply filed in the present Company Petition also the<br \/>\nclaim is not disputed.  After the admission, there is no changed<br \/>\ncircumstance.  The admission of the present Company Petition was<br \/>\ndirected to be advertised in two local newspapers, i.e., ?SThe<br \/>\nIndian Express??   [English Daily] and ?SSandesh?? [Gujarati<br \/>\nDaily] both Ahmedabad Editions and affidavit of advertisement dated<br \/>\n28th April 2007 is placed on record submitting that<br \/>\nadmission of the petition has been published in aforesaid two local<br \/>\nnewspapers.  Inspite of the same, nobody has raised any objection<br \/>\nagainst granting of relief in the Company Petition.\n<\/p>\n<p>4.\t\tConsidering<br \/>\nthe fact that the debt is not disputed and that an amount of Rs.<br \/>\n2,68,800 is due and payable, and inspite of service of statutory<br \/>\nnotice and thereafter the respondent company has failed and neglected<br \/>\nto pay the said amount, the Company is required to be wound up.  The<br \/>\nrespondent Company has also not come out with any concrete proposal<br \/>\nto make payment of the dues.  It is an admitted position that the<br \/>\nrespondent Company is not in position to pay any amount to the<br \/>\npetitioner as on date.  It is also not the case on behalf of the<br \/>\nrespondent that the respondent company is a running and a<br \/>\nprofit-making company.    Under the circumstances, the present<br \/>\nCompany Petition is required to be allowed.  The respondent Company<br \/>\nis, therefore, ordered to be wound up.\n<\/p>\n<p>5.\t\tFor<br \/>\nthe reasons as stated above,  the petition is allowed. The respondent<br \/>\ncompany is directed to be wound up. The Official Liquidator attached<br \/>\nwith this Court is appointed as &#8216;Official Liquidator&#8217; for the<br \/>\nrespondent company. The Official Liquidator is hereby directed to<br \/>\ntake possession of the properties (movable or immovable) of the<br \/>\nrespondent company along with its Bank Accounts, Cheque Books, Cash,<br \/>\nAccount Books etc., after preparing the inventories and panchnama.<br \/>\nThe Official Liquidator shall submit  his report within a period of<br \/>\nthree months. If required, he can take service of the Official <\/p>\n<p>Valuer<br \/>\nfor the purpose of preparation of <\/p>\n<p>inventory<br \/>\nreport, possession note, etc. No costs.\n<\/p>\n<p>\t\t[<br \/>\nM.R. Shah, J. ]<\/p>\n<p>rmr.\n<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Monaj vs Crystal on 11 October, 2010 Author: M.R. Shah,&amp;Nbsp; Gujarat High Court Case Information System Print COMP\/215\/2006 3\/ 6 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY PETITION No. 215 of 2006 For Approval and Signature: HONOURABLE MR.JUSTICE M.R. SHAH ========================================================= 1 Whether Reporters of Local Papers may be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,8],"tags":[],"class_list":["post-192413","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monaj vs Crystal on 11 October, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/monaj-vs-crystal-on-11-october-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monaj vs Crystal on 11 October, 2010 - Free Judgements of Supreme Court &amp; 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