(1.) IFCI Factors Ltd. ('IFL') has filed this petition under Section 439 read with Sections 433(e) of the Companies Act, 1956 ('Act') seeking the winding up of the Respondent, Koutons Retail India Limited ('KRIL').
(2.) The background facts are that in 2010, the company known as Krish International Pvt. Ltd. ('KIPL') approached IFL to avail of sales bill factoring facility to the tune of Rs. 5,00,00,000. The Respondent KRIL was the Approved Debtor. In para 9 of the petition, the nature of a factoring transaction is explained as under:
(3.) An agreement of factoring of receivables (hereafter 'factoring agreement') was executed on 18th February 2010 between IFL and KIPL. Apart from the documents executed by KIPL as well as its Managing Director ('MD') Mr. Alok Aggarwal, a notice of assignment of debts dated 16th February 2010 was issued by KIPL and counter-signed by KRIL. This was accepted by KRIL by a separate letter dated 17th February 2010 written to IFL accepting the terms highlighted in the notice of assignment of debts. This letter was signed by Mr. D.P.S. Kohli, Director of KRIL. The factoring agreement with KIPL was acknowledged by KRIL.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
Read More
Sales: sales@the-laws.com
Support: info@the-laws.com
8000853936
9376168072
27, 4TH FLOOR, Agrawal Center, Ashram Road, Income Tax, Ahmadabad 380014.
LOGIN