RAJENDRA MANILAL SHAH Vs. GEOLOGGING INDUSTRIES LTD

JUDGEMENT

(1.) THESE two cross appeals arise out of the order dated 5.7.2001 passed by the learned Single Judge in a winding up petition directing the company to deposit the admitted sum of Rs.4,86,400/- within a period of six weeks, failing which the petition shall stand admitted and liable to be advertised.

(2.) THE company has filed Appeal (Lodging) No.764 of 2001 contending, inter alia, that the petitioner did not present the complete project report in time and thereafter, he abandoned the project without completing the work as agreed and, therefore the petitioner is not entitled to claim any fees or charges. On the other hand, the petitioner has preferred Appeal No.749 of 2001 seeking permission to withdraw the amount.

(3.) IN view of the clear and unequivocal admission contained in the above letter, the learned single Judge was right in directing the company to deposit the amount of Rs.4,86,400/-. Therefore, we confirm the impugned order. The company is given time of eight weeks to deposit the said amount. In case, the company fails to deposit the amount, the Company Petition to stand admitted and advertised in Free Press Journal, Janmabhoomi and Maharashtra Government Gazette. If the amount is deposited, the petitioner i.e. Rajendra Manilal Shah will be entitled to withdraw the amount. As far as the balance claim of the petitioner is concerned, the petitioner is at liberty to take appropriate steps in accordance with law.