INDUSTRIAL DEVELOPMENT BANK Vs. SOLARTECH INDIA LTD

JUDGEMENT

(1.) THIS petition under Sections 433(e), 434 and 439 of the Companies Act, 1956 is filed by the Industrial Development Bank of India and prayer has been made therein for a direction for winding up of the respondent company. This winding up of the respondent company is sought for on the ground of its inability to pay the debts of the Bank.

(2.) THE petition was presented on 18 -4 -2000. On 13th July, 2000 the court has been pleased to issue show -cause notice to the respondent company. The notices sent for the date were received unserved. The notices were received with the report that earlier at the given address the registered office of the company was there but now the landlord of the premises is occupying the same. On 31st July, 2000 the court pleased to issue fresh notices to the respondent company both by ordinary process as well as by registered post. The notice which has been sent by registered post AD has been received unserved. The notice sent through ordinary process has not been received back.

(3.) AS a result of the aforesaid discussion I am satisfied that this application filed by the petitioner deserves acceptance. Accordingly it is allowed.