SURAT DYES Vs. ARYA SILK MILLS PVT

JUDGEMENT

(1.) The learned advocate for the applicant Mrs.Swati Soparkar seeks permission to delete respondent Nos.2 to 6. Permission granted.

(2.) This application has been moved by the applicant stating that there is non-compliance or violation of provisions of Section 488 of the Companies Act, 1956 ('the Act' for short) and the following prayers have been made in the Judge's Summons taken out by the applicant.

(3.) The case of the applicant is that the applicant is a creditor of respondent No.1 for a sum of Rs.1,23,218/- being the cost of colours and chemicals supplied to respondent no.1 along with interest thereon of Rs.91,707/- aggregating to a sum of Rs.2,14,925/-. Respondent No.1 was incorporated on 06-05-1986 as a Private Limited Company having its Registered Office and the place of business at the address mentioned in the cause title. It is further stated by the applicant that in pursuance of notice dated 01-02-2003 a general meeting of the shareholders of the Company (in liquidation) was convened on 08-03-2003 whereat a special resolution was passed opting for members' voluntary winding up under Sections 484 and 488 of the Act. It is thereafter stated in the application that the subsequent statutory requirements prescribed under Sections 485 and 488 of the Act were not complied with and hence, according to the applicant, this was a fit case wherein the Court must grant the prayers made by the applicant.