TMI Blog2012 (10) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... ction of the claim of the petitioner. If, there was full and final satisfaction of the claim of the petitioner, there was admission of supply. This is inconsistent with the defence in the Affidavit-in-Opposition that the bills and challans are forged which if substantiated would go to show that no supply was made. There is clear evidence of supply of steel wires and there is no evidence on record to prove that the petitioner was satisfied with payment made and gave up its claim for the balance. Therefore, company has no defence to the claim of the petitioning creditor and winding up application is admitted. - CP No. 313 of 1993 - - - Dated:- 8-8-2012 - I.P. Mukerji J. For Petitioner : Mr. Samit Talukdar, Advocate Mr. D.N. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er sent out two Section 434 notices. The first was dated 10th October, 1992. The company did not reply to this notice. The Companies Act, 1956 makes it explicit, that if a winding up notice is not replied to, by the company, immediately a presumption of insolvency is drawn (See Section 434 (1) (a) of the Companies Act, 1956). Now, it is for the company to rebut this presumption. A second winding up notice was sent out by the petitioner. It was dated 26th March, 1993. This time the company replied by their letter dated 12th April, 1993. It said that it had made payment of Rs.58,77,995.88/-. This was the entire payment due and payable to the petitioner under the above transactions. The letter went on to say that the above sum was paid i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is inconsistent with the defence in the Affidavit-in-Opposition that the bills and challans are forged which if substantiated would go to show that no supply was made. The petitioner has annexed the bills and challans to the petition which show supply of goods to the company. The company has been unable to challenge these documents. There is clear evidence of supply of steel wires of invoice amount Rs.67,52,311.32/-. Payment of Rs.58,77,995.88 /-was made by the Company. There is no evidence on record to prove that the petitioner was satisfied with this amount and gave up its claim for the balance. The reference to the letter of 16th June, 1992 was misleading. It referred to the outstanding as on 31st March, 1992 as being Rs.25,83,671 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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