Bhagwati Prasad, J. - (1.) HEARD
(2.) THE petitioner Company M/s Poonam Sythetics & Fibers Limited has filed the present petition before this Court under Section 433(c) of the Indian Companies Act 1956 for winding up of M/s Pooja Granites and Marbles Limited having its registered office at E -41/42 Ambaji Industrial Area, Abu Road, District Sirohi, Rajasthan (Earlier it was having registered office at SB -39A Rambag Circle, Bapu Nagar, Jaipur 302015). Initially a show cause notice was issued by this Court on 26.09.1997 and even after service of notice no one appeared and then petition was admitted and advertisement of the petition was also done and publication was made in the news paper but none appeared to oppose the petition on behalf of the non petitioner No. 1.
(3.) THE learned Counsel for the petitioner contended that the non petitioner No. 1 obtained loan of Rs. 25,00,000/ - and also executed the Promissory Note dated 4.9.1995 and also given the receipt for this. Out of this only Rs. 8,55,675 could be realized by sale of shares given by Non Petitioner No. 1 and now Rs. 16,44,325/ - are still due since 1996. The petitioner failed to get the balance amount from the respondent No. 1 and then it issued the Statutory Notice calling upon to the respondent No. 1 to pay the aforesaid dues with interest @ 27% P.A. from the date it become due till the payment.;