SABIR AHAMAD AND OTHERS versus NAJMA SUGAR MILLS
Appeals for the company to be consolidated by sections 305, 306, 309 and 325 court grounds; the company was taken to conclude that the company had failed to fulfill its obligations in the execution of a contract. That was not feasible, according to the company's balance sheet. That the company was commercially unprofitable and, therefore, a offerings had to be set up to buy and sell the company's assets, so that the company's obligations could be met with the proceeds from the company's sales. The company was inactive and started working experimentally only last year and the balance sheet shows that it has lost Rs 4 crore. The company continued to provide bank finance loans from the bank in 2002 and 2003, and a comparison shows that the loan was increased in 2003 and was not on record to offer any suggestions.
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