PRIME INDUSTRIES Vs. B.S. REFRIGERATORS LTD.

JUDGEMENT

(1.) These petitions are filed under Section 433(e) of the Companies Act, 1956 for winding up of the Respondent-company.

(2.) Respondent-company is a company incorporated under the provisions of the Companies Act as a Public Limited Company. The registered office of the Respondent-company is situated at Bangalore. The main object of the Respondent-company is manufacture and sale of refrigeration equipments and other allied activities. Petitioners entered into trade transaction with the Respondent-company. Since the Respondent-company failed to pay the debts due to the Petitioners, they got issued statutory notices demanding the Respondent-company to pay the dues. Since the Respondent-company failed to pay the amounts due to the Petitioners, they are before this Court for winding up of the Respondent-company.

(3.) This Court vide order dated 20-4-2009 permitted to take out newspaper publication and the same is complied. Pursuant to the advertisement, the secured creditors have filed their objections opposing the winding up of the Respondent-company.