SHEKHARAJ HOTEL P LTD Vs. STATE OF ALLAHABAD

JUDGEMENT

(1.) Notices sent on 14-2-2002, to respondent-company returned undelivered, upon which orders were made on 5-7-2002, in pursuance of which, the company petition has been advertised in daily newspaper 'Pioneer' published from Lucknow, on 18-7-2002, daily newspaper, 'Aaj' published from Varanasi dated 16-7-2002, and in the Official Gazette of U.P. dated 27-7-2002. The newspapers and Gazette in Original have been filed by Sri R.P. Agarwal along with an application, which may be kept on record. The service of notices upon respondent-company, is, thus, deemed to be sufficient. No one has put in appearance on behalf of respondent-company. No other application or objection has been filed.

(2.) The respondent-company is engaged in and running a hotel known as Shekharaj Hotel situate in plot No. 292-S. 21/116, Englishia Line, Sikhraul, Varanasi. According to the averments made in company petition, petitioner-company advanced a loan to respondent-company to discharge its liabilities towards UPFC and Nagaria Sahkari Bank Ltd. The amount of Rs. 17,01,000 was advanced by way of loans at the interest rate of 2 per cent per month. The respondent-company, however, did not abide by the terms of agreement and failed to pay the amount. Notice was sent by registered post to respondent-company on 28-3-2002, which was returned undelivered. Thereafter petitioner-company published a notice in newspaper 'Pioneer' published from Lucknow and 'Aaj' from Varanasi. It is now submitted that inspite of statutory notice and publication, the respondent-company has failed to pay a sum of Rs. 23,81,4000.

(3.) As noticed above, the respondent-company has not put in appearance. In the facts and circumstances of the case, I hold that respondent-company is unable to pay its dues and is liable to be wound up. The respondent-company Shekharaj Hotel (P.) Ltd. with its registered office at New Colony, Aamghat, Ghazipur is directed to be wound up. The official liquidator, U.P., Allahabad is appointed as the liquidator of the company to take over the charge of the assets, prepare inventory and report to the Court. He shall also issue notice to the Director of the company to file statement of affairs within the statutory period.