TMI Blog1989 (12) TMI 282X X X X Extracts X X X X X X X X Extracts X X X X ..... y its debts as specified under section 433( e ) of the Act and, therefore, the company is liable to be wound up. The main contention for Coming to that conclusion is based on the averments made in paragraphs 8, 9 and 10 of the petition. Paragraph 8 specifies the bills which were submitted to the company for making the payment. Paragraph 9 specifies the amounts which the company paid to the petitioner and according to paragraph 10 of the petition, after adjusting the amount of payment towards the petitioner's bill a sum of Rs. 1,40,350.36 still remains to be due to the petitioner and payable by the company. It is this amount which was the foundation for filing the present petition for winding up. According to the petitioner, various letter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed, the company has paid the amount to the extent, according to the company, admitted to be payable to the petitioner. Today, when the case was listed for hearing, learned counsel for the petitioner, on the basis of averments made in the petition, very vehemently urged that the petition is liable to be allowed as there are still amounts according to him, even after the payment of the amount by the company, due to be paid to him and for the failure of the company to pay the said amount, the company is liable to be wound up under section 433( e ) of the Act. As already stated in the counter-affidavit, learned counsel for the respondent on behalf of the company has urged that, according to the company, no amount is due to the petitioner an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance amount to be payable to the petitioner while the petitioner is vehemently arguing that the amount is due to it. However, this court will not go into the disputed questions whether this amount is, admittedly, due to the petitioner or not. The question which is before this court is whether, on the facts of this case, it would fall under the provisions of section 433( e ) of the Act or not. If the balance amount is seriously disputed and payment has not been made by the company, then it will not be a case falling under the aforesaid provision. The purpose of making the petition under the aforesaid provision is not to obtain payment from the company but for winding up the company. The forum for realising the said amount is already there an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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