TMI Blog1993 (10) TMI 272X X X X Extracts X X X X X X X X Extracts X X X X ..... T M.S. Rane, J. By this petition , the petitioner is seeking winding up of the respondent-company, Satsih Solvent Extractions Ltd., on the ground that the said company unable to pay its debts. The claim of the petitioner relates to the balance price of the goods sold and supplied by them to the respondent-company. The petitioner has in para 6 of the petition stated the various particular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de last two bills the same was not in accordance with their order and they brought the said fact to the notice of the petitioner by their telegram dated June 5, 1990. It is most significant to note that the petitioner himself in para 7 of the petition has made a mention about the receipt of the telegram. The said telegram reads : "At Seamless Tubes supplied and billed by you are ERW pipes send y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te also admits having received the said cheque but states that since it was not in accordance with the order of the court, they have not encashed the said cheque. The short point that falls for consideration is whether the defence raised by the company is bona fide and the answer has to be in affirmative. In the first instance the company, as admitted by the petitioner himself in para 7 of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alf of the petitioner that the petitioner would accept the amount under the order of the court and without prejudice to his rights. In the circumstances, the following order is passed : ( i )Petition is dismissed. No order as to costs. ( ii )In view of statement made with regard to the sum of Rs. 8,363, the petitioner to return the cheque to the respondent-company received by him and in lieu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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