2014 (3) ABR 464 ::AIR 2014 (NOC) (SUPP) 391 (BOM)

Bombay High Court

Hon'ble Judge(s): G. S. Patel , J

(A) Bombay Money Lenders Act (31 of 1947) S. 2, 10 — Companies Act (1 of 1956), Ss 433, 434 — Winding up of company — For non-payment of debt — Debt claimed must be legally recoverable — If recovery barred under S 10 of Bombay Money Lenders Act, 1947, petition would not be maintainable — Hire purchase agreement between parties — No money lending transaction — Winding up petition maintainable — Final opportunity given to debtor to make payment (Para 10,14,18,19)