DEUTSCHE BANK AG Vs. PEARL ENGINEERING POLYMERS LIMITED

JUDGEMENT

(1.) The Petitioner, a Foreign Company, constituted under the laws of Germany, has invoked Section 433(e) and 434 of the Companies Act, 1956, (for short "the Act").

(2.) The Petitioner has been authorized to carry on banking business in India. The basic facts about the PetitionerBank and the reasons for filing of the present Company Petition for windingup against M/s. Pearl Engineering Polymers Limited, i.e. the RespondentCompany, are as under :

(3.) The Respondent Company availed of a financial assistance including term loan from AFIC in order to establish a plant to produce 17250 TPA of specialty bottle grade polyester chips at Kurkumbh, Plot No.D17, MIDC Industrial Area, Taluka Daund, District Pune, Maharashtra.