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2005 (9) TMI 320 - SUPREME COURTFailure to pay the amount of acknowledged claim of the respondent arising out of the goods sold by the respondent to the appellant-company - Held that:- Appeal dismissed. The principal claim for the goods supplied was for a sum of Rs. 31,64,699 and the same is reflected in the balance sheet of the respondent-company thus the respondent has made out sufficient cause for instituting the remedy under section 433(e) of the Companies Act.
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