SANJIV KHANNA, PRATHIBA M.SINGH
HDFC Bank Ltd. – Appellant
Versus
Prem Power Construction Pvt. Ltd. – Respondent
Prathiba M. Singh, J.
1. The short question that arises in this case is as to whether the notice of winding up under Sections 433/434 of Companies Act, 1956 (for short ‘the Act’) was duly served upon the Respondent or not.
2. The present appeal arises out of the judgment of the learned Single Judge dated 6th December, 2013 by which the company petition filed by the appellant/HDFC bank (‘appellant’, for short) was dismissed on the ground that the winding up notice was not properly served on the Respondent. Brief Background
3. It is the case of the appellant that on 25th October, 2007 the respondent Company was sanctioned fund based credit facility to the extent of Rs.150 lakhs and non-fund based credit facilities to the extent of Rs.950 lakhs and foreign exchange (‘FOREX’, for short) cover limit of Rs.95 lakhs, with an aggregate limit of Rs.1100 lakhs. In order to avail these facilities, the respondent executed security documents, including a master credit facility agreement dated 30th October 2007, demand promissory notes for the sum of Rs.4 crores, Rs.9.5 crores, Rs.1.5 crores, Rs.1.10 crores and Rs.95 lakhs, letter giving a lien on fixed deposit receipts (‘FDRs’, for short
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