IN MATTER OF JAGRAN PRAKASHAN LTD Vs. STATE

JUDGEMENT

(1.) Heard Shri Navin Sinha, Senior Advocate assisted by Shri Devesh Rathor, counsel for the petitioner and Shri Ravi Kant, Senior Advocate assisted by Shri Tarun Agrawal, counsel for the respondent Company.

(2.) This petition under Section 433 (e) & (f) of the Companies Act, 1956, has been filed by the petitioner for winding up M/s. Jagran Prakashan Ltd. (JPL), on the ground that it is unable to pay its dues.

(3.) It is submitted on behalf of the petitioner that a tripartite agreement dated 29.12.2006 was entered into between Jagran Engage (JE), a division of JPL, M/s. Mcons Media Marketting (MMM) and Kaushil Enterprises (KE).