Winding up proceeding can be admitted on failure to return advance against property on cancellation of agreement

HIGH COURT OF CALCUTTA Sanchit Vinimay (P.) Ltd. v. Mrs. Sipra Thomas CP No. 270 of 2012 December 14, 2012 JUDGMENT The Court : The company has no manner of defence to the claim of the petitioning-creditor for refund of a part of the advance payment made for procuring an immovable property. 2. The parties entered into an agreement on July 1, 2012 by which the petitioner agreed to purchase the relevant immovable property at a consideration of Rs.1,90,33,000/-. The petitioner claims that she paid a sum of Rs. 14 lakh as advance and also tendered a further cheque for Rs. 36 la...