Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2018 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 176 - HC - Companies LawWinding up of the company - commercial insolvency - Held that:- The defence of the company against the claim of the petitioner for the said amount of ₹ 15,92,544/- is that the goods supplied by the petitioner, from time to time covered by the said four invoices nos. HSC/101, HSC/169, HSC/181 and HSC/194 were of inferior quality. The total value of the said 4 invoices is ₹ 33, 82,350/-. However, the company could not explain as to how it went on issuing fresh orders to the petitioner for supply of the said goods. It is the company’s own case that it has utilised 20% of the said goods supplied by the petitioner covered by the last four invoices and paid ₹ 13,89,389/- to the petitioner. Even in the case of IDBI Trusteeship Ltd.(2016 (11) TMI 1529 - SUPREME COURT) cited by the company the Supreme Court has held that while dealing with the defence put up by a defendant in the affidavit for leave to defend, even if the defendant has raised a triable issues, if a doubt is left with the trial Judge about the defendant’s good faith, or genuineness of the triable issues, the trial Judge may impose conditions, for payment in Court or furnishing security. Subject to deposit of ₹ 15,92,544/-, together with interest thereon at the rate of 10%, per annum from the date of receipt of the notice under Section 434 of the Act of 1956 by the company with the Registrar, Original Side of this Court, within October 10, 2018, the present winding up application shall stand permanently stayed and the petitioner shall file a suit against the company, before the competent Civil Court for realisation of its dues. In the default of deposit of the aforementioned amount by the company with the Registrar, Original Side of this Court within the time stipulated above the present winding up application shall stand admitted for ₹ 15,92,544/-, together with interest thereon at the rate of 10%, per annum from the date of receipt of the notice under Section 434 of the Act of 1956. In that event the petitioner shall cause publication of the notice of the winding up application against the company once in the Bengali newspaper, ‘Bartaman’ and once in the English newspaper, ‘The Statesman’. In the said notices the petitioner shall also mention that this application shall appear before this Court on the first Monday falling after four weeks, from the publication thereof.
|