1. The petitioner-company has filed this petition under Sections 433 and 434 of the Companies Act, 1956 (hereinafter referred to as the 'Act') against respondent-Xylon Electrotechnic Pvt.Ltd.
2. This Court (Coram: D.A.Mehta, J., as he then was) vide order dated 22.11.2010, was pleased to issue notice to the respondent-company. It appears from the record that during the hearing before this Court, the respondent-company has deposited sum of Rs.5 lacs (Rupees Five Lacs only) in pursuance to the earlier order dated 10.08.2011 passed by this Court in this proceedings, without prejudice to the rights of the respondent in order to show the bona fides.
3. Today, it is pointed out by Mr.Chatrapati, learned counsel appearing for Singhi and Co. for the petitioner that the petitioner has already availed civil remedy by filing Summary Suit No.854 of 2011 before the Hon'ble Bombay High Court against the respondent on the basis of the invoices pressed into service in this petition.
4. Mr.Tarak Damani, learned counsel appearing for the respondent however, submitted that the respondent has not received any notice/summons from Hon'ble Bombay High Court.
5. In view of this development, this Court thinks it fit not to exercise its discretion for entertaining this petition for winding up of the respondent-company filed under Sections 433 and 434 of the Act.
6. Accordingly, the petition is dismissed. However, the Registry is directed to remit/transfer sum of Rs.5 lacs (Rupees Five Lacs only) deposited by the respondent as per order dated 10.08.2011 to the Hon'ble Bombay High Court, with a request to deposit the aforesaid amount in Summary Suit No.854 of 2011.
(R.M.CHHAYA, J.) Hitesh Top