THE TRADERS BANK LIMITED Vs. KWICK TRAVELS PVT. LIMITED

JUDGEMENT

(1.) This petition has been filed by The Traders' Bank Limited against Kwick Travels Pvt. Ltd. under sections 433 and 439 read with section 434(i)(a) of the Companies Act for winding-up the respondent company. It is admitted by Mr. Luthra that a suit (being No. 484/86) has already been filed by the Traders' Bank Limited against the respondent company, which is pending on the original side of the Court.

(2.) This petition for winding-up the respondent company has been filed, after filing of that suit in this Court, on 15th Sept., 1987 in the first instance, refiled on 5th Oct., 1987 and again re-filed on 12th Oct., 1987.

(3.) It is not disputed that the cause of action in the suit is for recovery of money and in this case, it is also alleged that the money due has not been paid. The transactions between the parties in the suit, and those referred to in the winding-up petition are the same.