Co.Appl. 1/2008 BEFORE HON’BLE THE CHIEF JUSTICE(ACTING) MR A.K.GOEL HON’B LE MR JUSTICE N.KOTISWAR SINGH [ Goel,CJ(Acting] This appeal has been preferred against the order of the learned Company Judge d irecting winding up of the appellant company. The respondent herein, who was the original petitioner before the learned compan y Judge, filed a petition seeking winding up on the ground of inability of the appellant company to pay its debts. The claim of the respondent was that it advanced a sum of Rs.15,00,000/- to the appellant company by a cheque dated 24.6.2002 which was duly cleared by the ban k on 25.6.2002. The amount of interest was payable @ 18% per annum. The appellan t company issued a cheque on 24.3.2003 purporting to repay the amount, but the s aid cheque was dishonoured, which led the respondent to initiate a proceeding un der the Negotiable Instrument Act, 1988. After following due procedure, the Comp any Court was approached. Since the appellant failed to contest the petition, th e learned Company Judge was satisfied that the appellant was unable to pay its d ebts. Accordingly, winding up petition was allowed. Application was filed by the appellant company praying for recalling of the orde r of winding up on the ground that notice was not served, but the said plea was rejected and the application was dismissed. We have heard learned counsel fo r the appellant. None appears for the respondent. In view of unrebutted fact that the cheque was given to the appellant company b y the respondent company petitioner, which was duly cleared by the bank, prima facie the appellant company was liable to return the said amount which it faile d to return. Even if the plea of the appellant that the cheque purporting to hav e been issued by it was forged, was to be accepted, the liability of the appella nt was not washed away. In the circumstance, there is prima facie case for windi ng up of the appellant company on account of which we do not find any error in t he view taken by the learned Company Judge. Learned counsel for the appellant states that the appellant should be given a he aring on merits on showing its bonafides by way of deposit of substantial am ount. We are inclined to accept this submission as this course will not cause a ny prejudice to the respondent. Accordingly, we direct that on deposit of an amount of Rs.5,00,000/- with the Registry of this Court within six weeks, the im pugned order will stand set aside and the company petition will stand revived b efore the learned Company Judge. The learned Company Judge shall be at liberty t o deal with the matter in accordance with law after giving hearing to the appell ant. If the amount is not deposited within six weeks, this appeal will stand di smissed. If deposit is made, the matter may be put up before the learned Compan y Judge on January 18,2012.