B.K. DUPLEX BOARD LTD. Vs. SOUND FIBRE

JUDGEMENT

(1.) THE instant appeal filed under Section 483 of the Companies Act, 1956 (for brevity, 'the Act') is directed against the order dated 17.4.2009 passed by the learned Company Judge in CP No. 226 of 1998. The learned Company Judge has concluded that the appellant -Company has admitted the debts payable by it and it has been prima facie established that the appellant -Company was not able to pay its debts. However, the dispute has been raised by the appellant -Company with regard to directions issued in the concluding para for winding up the Company without first admitting the petition and directing its advertisement. The operative part of the concluding two paras reads as under:

(2.) THE appellant has confined the challenge only to the direction issued in the concluding para of the order.

(3.) MR . Salil Sagar, learned Senior counsel alongwith Mr. Samarth Sagar are present for the caveator -respondent -petitioner. They have accepted notice on behalf of the respondent -petitioner. Mr. Sagar states that he concedes the proposition canvassed by the learned Counsel for the appellant -Company. He further states that the prayer made by the learned Counsel for the appellant -Company to that extent be accepted.