VIGNESHWARA PROPERTIES PVT. LTD. Vs. RANJIT KUMAR SAHAL

JUDGEMENT

(1.) The petitioner has filed this winding up petition on the ground that the company has neglected to discharge its debt for a sum of Rs.1.38 Crores payable under a loan transaction.

(2.) The petitioner has referred to a cheque dated April 15, 2014 drawn on Union Bank of India in favour of the Company for a sum of Rs.1.90 Crores by way of a loan. The petitioner alleged that the company in part discharge of its obligation had paid a sum of Rs.52 lakhs on 17th July, 2014 through RTGS and has failed and neglected to pay the balance amount.

(3.) In view of alleged failure to pay the aforesaid sum, a statutory notice was issued on 26th Feb., 2015.