2010 (6) TMI 327 - HC - Companies Law

Summary

Issues: Claim for payment due in business transaction

Analysis:
The petitioner, a company, claimed that the respondent owed them a sum of Rs. 5,94,813.65 as on a specific date, which was later confirmed by the respondent, leading to a balance of Rs. 5,28,024.49. The petitioner alleged that the respondent had placed an order for design and models, requiring an investment of Rs. 5,20,000 for dies. The respondent, however, denied the claim, insisting on compliance with the terms of the business transaction. Subsequent notices and replies acknowledged varying amounts due, but the respondent contended that defective supplies needed rectification before payment. The court noted the absence of material evidence regarding invoices or contracts for the supply of materials, making it challenging to determine the exact amount due. Consequently, the court rejected the petition, emphasizing the lack of clarity in the claimed sum owed by the respondent to the petitioner.