MALOOK CHAND AGROILS LTD Vs. HIMANSHU PROTEINS LTD

JUDGEMENT

(1.) This petition for winding up under sections 433, 434, and 439 of the Companies Act, 1956, was admitted vide order dated 26-9-1997.

(2.) Himanshu Proteins Ltd., Dabwali Road, Sirsa is the company of which erstwhile name was Malook Chand Vanaspati Products Ltd. Mr. Prakash Chand Aggarwal who was the Director of this Company had also floated along with other Co-directors another sister concern, namely, Malook Chand Agroils Ltd. Malook Chand Agroils Ltd. was ordered to be wound up by this Court on 2-11-1995 by an order passed in C.P. No. 9 of 1994. As a director of this company Mr. Parkash Chand Aggarwal had filed the statement of affairs before the Official Liquidator stating that the respondent-company therein owes a sum Rs. . 61,49,789.61 paise together with interest thereupon. A notice was served by the Official Liquidator upon the respondent-company but still it failed to pay its due lawfully recoverable from it. The Official Liquidator of Malook Chand Agroils Ltd. has, therefore, filed this petition for recovery of the aforestated amount.

(3.) As is clear from the above facts that after notice was issued to the respondent-company, the respondent-company had filed a reply to which a rejoinder was filed by the petitioner-company. The Court vide its order dated 26-9-1997 found that the defence put forward by the respondent-company was neither bona fide nor plausible and that the company had neglected and failed to pay its lawful dues. Notice was directed to be published at least 14 days prior to the date of hearing in the Indian Express. Hindi Tribune and Haryana Government Gazette.