DANKUNI HATCHERIES PVT. LTD Vs. PROSANTO SAHA

JUDGEMENT

(1.) This is a winding up application at the admission stage. This is the second round. On 4th February, 2016, Mr. Justice Somadder had admitted the winding up application. This order was set aside by the Division Bench presided over by Mr. Justice Sanjib Banerjee, on 10th April, 2017, on the ground that no opportunity had been given to the respondent company to file an affidavit-in-opposition. In those circumstances, the company petition was heard by this Court.

(2.) The claim of the petitioning creditor arises out of a mortgage-cum-loan agreement dated 22nd May, 2013 between Mr. Subrata Indu and the petitioning creditor. In furtherance of this agreement, the title deeds of a property belonging to Mr. Indu, one of the directors of the Company, was deposited with the petitioning creditor.

(3.) Learned Counsel for the petitioner showed me a balance sheet of the company where this loan was shown as part of the company's short term borrowings, under current liabilities.