TMI Blog2002 (3) TMI 823X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the machineries supplied by the petitioner-company was indicated. Since there was default in payment of the rentals towards the machineries, the petitioner-company had sent several letters, inter alia, requesting the respondent-company to pay the rentals due, for having supplied the machinery. All these letters were received by the respondent-company. In fact, the respondent-company has accepted the liability in those corres-pondences. 3. Since the respondent-company had not paid the amount due to the petitioner-company, the petitioner-company was constrained to issue a statutory notice dated 5-9-2001 to the respondent-company. In that, they had stated as under : "That, therefore, the client was constrained to issue to you noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quipments clearly depict the [that ?] HP has been illegally threatening our client and its officers of dire consequences. HP has also issued personal threats to the officers of our client. [Our client] reserves the right to initiate appropriate actions against HP and its officers concerned. ****** 7. Please be informed that HP by entering into a series of transactions with third party companies, contrary to our client s expectations, has acted in breach of agreements. It is also pertinent to note that a few third party companies did not fulfil their payment obligations to the various manufacturers of the equipments, and as a result, such manufacturer stopped servicing the equipments. Further, there have been instances where the manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed to present this company petition and the relief sought in this petition need not be granted by this Court. In support of that contention, the respondents have placed reliance upon certain observations made by the various courts. 7. Per contra, Sri Vivek Chandy, the learned counsel appearing for the petitioner-company, states that merely because arbitration clause is provided in the lease agreement, it does not prevent the petitioner-company in presenting a company petition before this Court for winding up the respondent-company on the ground that the respondent-company is not in a position to pay its debts due to its creditors. In support of that contention, the learned counsel has also placed heavy reliance on the observations mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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