SWOJAS INVESTMENT PVT LTD. Vs. AMADHI INVESTMENTS LIMITED

JUDGEMENT

(1.) The present petition has been preferred by the petitioner under Sections 433 and 434 of the Companies Act, 1956 (hereinafter referred to as the Act) for appropriate order of winding up of the respondent-Company viz. "Amadhi Investments Limited". The petitioner has prayed for the following reliefs:

(2.) Heard Mr.P.V.Patadiya, learned counsel for the petitioner and Mr.Mahesh B. Bariya, learned counsel for the respondent-Company.

(3.) It is the case of the petitioner that due to personal relation, the petitioner had given financial assistance (loan) of Rs. 5,00,000.00 (Rupees Five Lacs) @ 12% interest by way of Cheque No.752059, drawn on 'The Karur Vysya Bank Limited', Ashram Road Branch, Ahmedabad-380 009 dated 13.02.2009 and the respondent-Company deposited the said cheque and encashed the same. It is further case of the petitioner that the respondent-Company has not made the payment and the amount is still outstanding. It is averred in the petition that the respondent-Company has confirmed the said amount as per the accounts of the respondent-Company as on 31.03.2010. Even though, the respondent-Company was requested by sending repeated reminders dated 30.04.2010, 01.07.2010, 30.11.2010 and 31.05.2011, the respondent-Company has merely promised to pay the said amount, however, no amount is paid. It is further averred that the total amount, which is due and payable by the respondent-Company as on 30.11.2011 is Rs. 6,82,508.00, which includes interest at the rate of 12%.