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2018 (8) TMI 1483 - HC - Companies LawWinding up petition - liquidated damages imposed upon by IOCL for a sum of ₹ 1,70,700/- as the respondent claims that this took place on account of delayed delivery of the goods by the petitioner - Held that:- The only plausible defence appears to be is the liquidated damages imposed upon them by IOCL for a sum of ₹ 1,70,700/- as the respondent claims that this took place on account of delayed delivery of the goods by the petitioner. The petitioner has denied this contention stating that there was no reason or occasion for the petitioner to withhold delivery of goods after having received them from the respondents. It is on instructions of the respondent that the goods were delivered to IOCL. Delivery was affected when instructions were received from the respondent to deliver the goods. Even if we accept the plea of the respondent regarding the imposition of liquidated damages of ₹ 1,70,700/- by IOCL, the fact remains that the respondent remains liable to pay a sum of ₹ 5,71,350/- minus liquidated damages of ₹ 1,70,700/- being a total of ₹ 4,00,650/-. There is no explanation as to why the said amount of ₹ 4,00,650/- has not been paid by the respondent to the petitioner. In my view, the minutes dated October 2013 clearly shows that the respondent has accepted its liability to the above effect. The liability of the respondent to pay its dues does not get washed away by this technical argument. A perusal of the file shows that the petition was filed on 22.10.2013 though it is dated 27.09.2013. The transactions have taken place in September 2012 to June 2013. A statutory notice was sent on 06.08.2013. Even if the petition was filed in September 2013, it does not do away with the liability of the respondent. The plea is completely without merit In our opinion, the respondent is unable to raise any bona fide dispute regarding the dues of ₹ 4,57,125/- Accordingly, admit the petition and appoint the Official Liquidator attached to this Court as the Provisional Liquidator. He is directed to take over all the assets, books of accounts and records of the respondent-company forthwith. The citations be published in the Delhi editions of the newspapers ‘Statesman’ (English) and ‘Veer Arjun’ (Hindi), as well as in the Delhi Gazette, at least 14 days prior to the next date of hearing. However, in the interest of justice, the above order appointing the Official Liquidator as the Provisional Liquidator shall stand suspended for a period of six weeks in case the respondent made the necessary payment to the petitioner of a sum of ₹ 4,00,650/- with simple interest @ 9% p.a. from the date amount fall due.
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