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\s15\qc \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13074253 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid13074253 IN THE HIGH COURT OF FIJI
\par WESTERN DIVISION AT LAUTOKA
\par COMPANIES JURISDICTION
\par 
\par WINDING UP CAUSE NO. HBE 18 OF 2020
\par 
\par \ltrrow}\trowd \irow0\irowband0\lastrow \ltrrow\ts17\trgaph108\trleft-108\trftsWidth1\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tblrsid13074253\tbllkhdrrows\tbllkhdrcols\tbllknocolband\tblind0
\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth250\clshdrawnil \cellx142\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth9326\clshdrawnil \cellx9468\pard\plain \ltrpar\s15\qc \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\pararsid13074253\yts17 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 
\f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid13074253 \cell IN THE MATTER}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253\charrsid13074253  of }{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid13074253 NILA INTERNATIONAL PTE LTD }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253\charrsid13074253 a company having its registered office at Vuda Point, Lautoka.

\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid13074253 
\par AND
\par 
\par IN THE MATTER }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253\charrsid13074253 of the Companies Act 2015.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid13074253 \cell }\pard\plain \ltrpar
\ql \li0\ri0\sa200\sl276\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af31507 \ltrch\fcs0 
\insrsid944253\charrsid13074253 \trowd \irow0\irowband0\lastrow \ltrrow
\ts17\trgaph108\trleft-108\trftsWidth1\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tblrsid13074253\tbllkhdrrows\tbllkhdrcols\tbllknocolband\tblind0\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
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}\pard\plain \ltrpar\s15\qr \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid944253 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \b\f39\fs24\ul\insrsid944253 
\par }\pard \ltrpar\s15\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid7549183 Appearances}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\b\f39\fs24\insrsid944253       }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 :\tab Mr N. Nambiar for the applicant
\par \tab \tab \tab Mr D. S. Naidu for the respondent
\par \tab \tab \tab Mr N. Kumar for the supporting creditors
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid7549183 Date of Hearing}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253  :\tab 14 September 2020
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid7549183 Date of Ruling}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497    :\tab 15}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253  September 2020

\par 
\par }\pard \ltrpar\s15\qc \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs56 \ltrch\fcs0 \b\f39\fs56\insrsid944253\charrsid944253 D E C I S I O N}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \b\f39\fs24\insrsid944253 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid11673775 [}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid11673775\charrsid11673775 o}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid944253\charrsid11673775 n winding up}{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253\charrsid944253 ]}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }\pard \ltrpar\s15\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4274904 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid4274904\charrsid4274904 Introduction}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \b\f39\fs24\insrsid2122509\charrsid4274904 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2122509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 [01]\tab 
This is an application for the winding up of Nila International Pte Ltd (\'93}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid2122509\charrsid2122509 NIPL}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 \'94
) filed by ASAS Consulting Pte Ltd (\'93}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid2122509\charrsid2122509 the applicant}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 \'94
).  The applicant seeks to wind up NIPL on the ground that it is unable to pay its debt in the sum of }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 $139,000.00.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }\pard \ltrpar\s15\qj \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2122509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid4274904 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 [02]\tab Babu\rquote 
s Farm Produce Marketing and Jay Lal & Co (\'93}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid4274904\charrsid4274904 the supporting creditors}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 \'94
) have filed notice of intention to appear on the hearing of the application.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509  }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 According to the supporting creditors, NIPL}{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509  is also indebted}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904  to them in the sum of $26,651.60 and }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268 $}{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 11,386.28 respectively}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 .
\par }\pard \ltrpar\s15\qj \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2122509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2122509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 [03]\tab }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid4274904 The applicant served a s}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 tatutory demand under section 515 of the Companies Act (\'93}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\i\f39\fs24\insrsid2122509\charrsid211334 Com Act}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 \'94) on }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4274904 NIPL }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid2122509 demanding payment of the debt within 21 days of the service of the statutory demand.  }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 NIPL did not pay the debt as requested by the statutory demand. }{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509  }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 However, it unsuccessfully attempted }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
to set aside the statutory demand.
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 
\par [04]\tab NIPL did not file any affidavit in opposition to the winding-up application, albeit Mr Naidu represented NIPL at the hearing.
\par 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid4467488\charrsid4467488 Background}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid4467488 
\par 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid10246509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid4467488 [05]\tab }{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\insrsid10246509 The applicant}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  is a creditor of }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 NIPL}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 .}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509  It}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  was indebted to the applicant }{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 in}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  the }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 sum}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid4467488\charrsid10246509  of $}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509\charrsid10246509 100,000.0}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 0 }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid10246509\charrsid10246509 for}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  the loan given to }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 it}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  by the applicant and further sum of $39,000.0}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 0}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 
 being the interest calculated at a rate of 15% per month for non-payment of the principal debt}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 ,}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 
 which is due and payable by }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 NIPL}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  to the }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid10246509 applicant}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 .
\par }\pard\plain \ltrpar\s16\qj \li720\ri0\sa200\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid4467488\contextualspace \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 
\f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 
\par }\pard\plain \ltrpar\qj \fi-720\li720\ri0\sa200\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid5729497 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 
\f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 [06]\tab }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 
On 6 May 2020, the applicant served a }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 statutory }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 demand }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid10246509 on NIPL }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 requiring }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 it }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid4467488\charrsid10246509 to pay the }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 debt}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509 .  }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid10246509 NIPL however}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  failed for }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268 more than }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid10246509 3}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  weeks after service of the deman}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509 d to pay the amount or to secure}{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid10246509  or compound for it to the reasonable satisfaction of the applicant.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid10246509  }{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\insrsid5729497 NIPL unsuccessfully made an application to set aside the statutory demand. That application 
was dismissed by the court. As a result, the applicant has presented an application to have NIPL wound up on the ground that it }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid5729497 is unable to pay its debt.}{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497  The applicant }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497\charrsid5729497 believes}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid5729497 
 that there is no genuine dispute as to the }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 existence or amount of the debt.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488\charrsid5729497 
\par }\pard\plain \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2122509 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid5729497\charrsid5729497 The law}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid4467488\charrsid5729497 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid4467488 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 [07}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 ]\tab The Com Act, section 515 (a) provides:
\par 
\par \tab \tab \'93}{\rtlch\fcs1 \af31507 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid3017535 Definition of inability to pay debts}{\rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid2122509\charrsid3017535 
\par }\pard\plain \ltrpar\qj \li1134\ri850\sb100\sa100\sbauto1\saauto1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin850\lin1134\itap0\pararsid2122509 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 
\f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 Unless the contrary can be pro}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 
ven to the satisfaction of the court, a c}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 ompany must be deemed to be unable to pay its debts\emdash 
\par }{\rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 (a)}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358  if a creditor, by assign}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 ment or 
otherwise, to whom the c}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 ompany is indebted in a sum e}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 xceeding $10,000 or such other prescribed a}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\i\f39\insrsid2122509\charrsid13385358 mou}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 nt then due, has served on the company, by leaving it at the registered office of the c}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid15679268 
ompany, a demand requiring the c}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 ompan}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid15679268 y to pay the sum so due (\'93}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 statuto
ry demand") and the c}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid13385358 ompany has, not paid the sum or secured or compounded for it to the reasonable satisfaction of the creditor within 3 weeks of the date of the notice; or}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509 \'85\'94}{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\f39\insrsid2122509\charrsid15925638 
\par }\pard\plain \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2122509 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid5729497\charrsid5729497 Discussion
\par }\pard \ltrpar\s15\qj \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5729497 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2325301 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 [08}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid2122509 ]\tab }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid7299433 The court has jurisdiction to wind up any company or foreign company registered in Fiji (see section 512, Com Act).}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid5729497 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2325301 
\par [09]\tab The Com Act, section 513, sets out the circumstance}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268 s in which a company may be woun}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2325301 
d up by the court, which includes insolvency. A company or foreign company is solvent if, only if, it is able to 
pay all its debts, as and when they become due and payable (see 514 (1)). Further, a company or foreign company which is not solvent is insolvent (see 514 (2).
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid2122509 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2325301 [10]\tab The definition of inability }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268 to }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2325301 
pay debts is given in section 515 of the Com Act.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid672044  Unless th
e contrary can be proven to the satisfaction of the court, a company must be deemed to be unable to pay its debts if a creditor to whom the company is indebted in }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid806444 
a sum of exceeding $10,000 has served on the company a demand requiring the company to pay th
e sum so due and the company has not paid the sum or secured or compounded for it to the reasonable satisfaction of the creditor within 3 weeks of the date of the notice.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid5729497 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid806444 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid879817 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid879817 [11]\tab 
NIPL has failed to pay the sum demanded under the statutory demand or secure or
 compound for it to the satisfaction of the applicant (creditor) within 3 weeks of the date of notice, i.e. 6 May 2020. In the circumstances, NIPL is presumed to be unable to pay its debts by operation of section 515a of the Com Act. Putting in other word
s, the}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509  legal presumption }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid879817 created }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 under }{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid879817 that}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509  section that the company}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid879817  (NIPL)}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\insrsid2122509  is insolvent operates against it.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid526896  }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid2122509 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid526896 
\par [12]\tab It is worth noting that the presumption created under section 515a that the company (NIPL) is unable to pay its debts has been displaced by NIPL. It did not file any opposition to the w}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid1014533 inding-up application.}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid526896 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1014533 
\par [13]\tab }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 The}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1014533  winding-up application appears to be in order. The applicant has }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid1442254 properly }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1014533 complied with all the requirements }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 under the Companies (Winding Up) Rules 2015}{
\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979  (\'93}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \i\f39\fs24\insrsid9120979\charrsid9120979 the Rules}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 \'94)}{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 . The court registrar (deputy registrar) has filed a certificate of compliance}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979  as required by Rule 19 of the Rules}{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 . The certificate of compliance is evidence that:}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1014533 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid9120979 \hich\af39\dbch\af31506\loch\f39 (a)\tab}}\pard \ltrpar
\s15\qj \fi-360\li1446\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\ls5\adjustright\rin0\lin1446\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 
the application has been advertised in a newspaper and published in the Gazette;}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 
\par }\pard \ltrpar\s15\qj \li1446\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1446\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid9120979 \hich\af39\dbch\af31506\loch\f39 (b)\tab}}\pard \ltrpar
\s15\qj \fi-360\li1446\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\ls5\adjustright\rin0\lin1446\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 the statutory affidav
it and the affidavit of service (if any) have been properly filed;
\par }\pard \ltrpar\s15\qj \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid9120979 \hich\af39\dbch\af31506\loch\f39 (c)\tab}}\pard \ltrpar
\s15\qj \fi-360\li1446\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\ls5\adjustright\rin0\lin1446\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 the written consent of the liquidator has been filed; and
\par }\pard \ltrpar\s15\qj \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid9120979 \hich\af39\dbch\af31506\loch\f39 (d)\tab}}\pard \ltrpar
\s15\qj \fi-360\li1446\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\ls5\adjustright\rin0\lin1446\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 
the applicant has properly complied with these Rules in relation to application for a winding up order.
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid9120979 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid1442254 
\par }\pard \ltrpar\s15\qj \fi-720\li720\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid14055799 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid9120979 [14]\tab The application for
 winding up remains unopposed. This means that the}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid14055799 
 legal presumption created under section 515a that NIPL is unable to pay its debts has not been displaced. In the circumstance, it would be just and equitable that NIPL should be wound up. }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 
I would, therefore, grant winding up order as sought.
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid14055799 
\par \tab }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid14055799\charrsid14055799 Result
\par }\pard \ltrpar\s15\ql \li360\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin360\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid944253 \hich\af39\dbch\af31506\loch\f39 1.\tab}}\pard \ltrpar
\s15\ql \fi-360\li1440\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\ls2\adjustright\rin0\lin1440\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 The respondent company}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 
\f39\fs24\insrsid14055799 , Nila International Pte Limited}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253  be wound up.
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af31507 \ltrch\fcs0 \f39\insrsid944253 \hich\af39\dbch\af31506\loch\f39 2.\tab}Official rece}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid14055799 iver is appointed as liquidator}{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 .
\par }\pard \ltrpar\s15\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid944253 
\par 
\par }\pard \ltrpar\s15\qc \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid944253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid8673170 
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid4618169 \'85\'85\'85\'85\'85\'85\'85\'85\'85\'85\'85\'85
\par M.H. Mohamed Ajmeer
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\ul\insrsid944253\charrsid4618169 JUDGE
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid4618169 
\par }\pard \ltrpar\s15\qc \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13074253 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253 At Lautoka
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid5729497 15}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253  September 2020}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \b\f39\fs24\insrsid944253\charrsid4618169 
\par }\pard\plain \ltrpar\qc \li0\ri0\sa200\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13074253 \rtlch\fcs1 \af31507\afs22\alang1025 \ltrch\fcs0 \f31506\fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 
{\rtlch\fcs1 \af31507 \ltrch\fcs0 \insrsid1997576 
\par }\pard \ltrpar\ql \li0\ri0\sa200\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\ul\insrsid8673170\charrsid8673170 Solicitors:}{\rtlch\fcs1 \af31507\afs24 
\ltrch\fcs0 \f39\fs24\ul\insrsid8673170 
\par }\pard \ltrpar\ql \li0\ri0\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7345447 {\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid8673170\charrsid8673170 Gosai and Nambiar Lawyers}{\rtlch\fcs1 
\af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid8673170  for the applicant
\par }{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268 Pillai Naidu & Associates, Barristers & Solicitors for the respondent
\par Krishna & Company, Barristers & Solicitors for the supporting creditors}{\rtlch\fcs1 \af31507\afs24 \ltrch\fcs0 \f39\fs24\insrsid15679268\charrsid8673170 
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