Assotech Ltd. vs Manmohan Singh Bhalla & Anr. on 9 February, 2017

CO.APP.17/2016 Page 1 of 10
CM No.4338-39/2017
Allowed subject to just exceptions.
Co.A.17/2016 & CM No.4929/2017 & 4931/2017
1. Orders dated February 08, 2016, February 26, 2016, March 23, 2016,
April 21, 2016, May 05, 2016 and August 08, 2016 passed by the learned
Company Judge are impugned in the instant appeal.
2. Taking cognizance of five company petitions seeking winding up of
the appellant, the learned Company Judge noted that cheques issued by the
company totaling more than `4 crores given to the five petitioners had been
dishonoured. An FIR had been registered for offences of cheating and
misappropriation against the Managing Director of the company by the
Economic Offences Wing of the Delhi Police. The first Company Petition
No.357/2015 was admitted. The Official Liquidator attached to the court
was appointed as the Provisional Liquidator. The Directors of the company
were directed to file the statement of affairs within 21 days.

Source: Indian Kanoon

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