TMI Blog2017 (6) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... ent this court directs that the petitioner shall be entitled to simple interest @7% p.a. under the Sale of Goods Act, 1930 from the respective due dates of the invoices mentioned in the statutory notice dated 12th January, 2016. This winding up application is formally admitted. Direct that the petitioner be advertised once in Times of India, Kolkata Edition and once in Anandabazar Patrika, Kolkata Edition. Publication in the Official Gazette is dispensed with. Direct the advertisement be published by 31st May, 2017. The winding up application be listed as (Company Matter New) on 3rd July, 2017. - C.P. NO. 288 of 2016 - - - Dated:- 4-5-2017 - MR. I.P MUKERJI, J For The Petitioner : Anubhav Sinha, Shaunak Mitra, Ashis Mukherjee and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n amount of ₹ 54,89,076/- on account of price and ₹ 2,90,192/- on account of interest @24% per annum charged after the payment due date for each invoice as specified in the said notice. It will appear from the invoices tabulated in this notice as unpaid, that all except the one dated 16th October, 2015, appear in the above statement of accounts. The invoice dated 16th October, 015, was beyond the statement period. 6. On 15th February, 2016 the company caused a reply to be made to this notice. A defence, which did not feature at any point of time after supply of the goods, was raised. They said that some of their employees were trying to run a rival business and that the petitioner was responsible for it or for aiding their em ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any, the goods were supplied to and consumed by them, they cannot deny their liability to the petitioner. Assuming that some insider in the company was involved in wrongfully placing the orders at a premium for personal gain, causing loss to the company and not recording the delivery of the goods in the stock of the company, the company has to recover whatever loss it has suffered, from him or if there were more than one person involved, from all of them. The company under the ordinary law of contract cannot afford to withhold the petitioner's payment. But this plea is plainly unbelievable. The document described as confirmation of accounts clearly shows that there were running and continuous transactions between the petitioner and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lated interest @ 24% p.a. Whether this rate of interest was agreed upon by the parties or claimed for the first time in the said notice is not disclosed. The petitioner has to produce all this evidence during the final hearing of the winding up petition. At any rate, the rate of interest prima facie appears to be penal. At the moment this court directs that the petitioner shall be entitled to simple interest @7% p.a. under the Sale of Goods Act, 1930 from the respective due dates of the invoices mentioned in the statutory notice dated 12th January, 2016. 14. This winding up application is formally admitted. I direct that the petitioner be advertised once in Times of India, Kolkata Edition and once in Anandabazar Patrika, Kolkata Edition. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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