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AI-Rawas Mining Co. LLC Versus ASA Portfolio Private Limited

2017 (8) TMI 253 - DELHI HIGH COURT

Outstanding dues - winding up petition - Held that:- The respondent had neglected to pay to the petitioner due to its relations becoming sour after October 2013 when the petitioner decided not to transact any further business with it. The respondent then blocked the balance payment. Despite the petitioner being shown, in its sundry creditors list till the year ending on 2014, the respondent suddenly showed the petitioner as a sundry debtor for the alleged losses it suffered on account of the con .....

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Statesman” (English edition) and “Jansatta” (Hindi edition) in accordance with Company (Court) Rules, 1959. - However, publication of the citation and appointment of the provisional liquidator is deferred and one opportunity is given to the respondent company to pay the amount found already due and payable to the petitioner with interest at the rate of 8% per annum with effect from 25.02.2015 when the statutory notice was served on the respondent company. The amount be paid within one month .....

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um in bulk through the carrier vessel : MV STELIOS B. The petitioner raised the commercial invoice dated 09.05.2013 for the total consideration of USD 7,44,900 and supplied the agreed quantity of Natural Gypsum in accordance with various bills of lading through sea transport. The shipments were duly received by the respondent. In addition, the petitioner claims to have incurred crane charges for Gearless vessel: MV RODON on behalf of the respondent company for USD 55,425.23 against which a debit .....

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he petition. It is alleged that despite its admitted liability, the respondent had failed to honour its commitment and had ignored the correspondences made in this regard. It is alleged that though the respondent always pretend to send the money but failed to remit it on flimsy grounds viz, RBI guidelines or unavoidable banking formalities and hence continued to be in default, despite assurances. 2. The respondent had evaded to reply to emails and to the statutory notice of demand dated 25.02.20 .....

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ioner would in no manner shall bye-pass the respondent in dealings. It is alleged that the respondent introduced ACC, its client to the petitioner and the business was smooth but however a dispute arose between the parties on arrival of a new company M/s.Dhofar who initially approached the respondent for supply of Gypsum to ACC, but as the respondent declined, the petitioner offered its Gypsum to M/s Dhofar at different rates thus reducing the profit margin of respondent. The petitioner and M/s .....

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spondent. The defence is the petitioner is rather liable to compensate the respondent for a sum of ₹ 3.60 crore in view of the investments made by the respondent and for the losses suffered by it on account of breaches. The debt thus is disputed by the respondent. 4. One needs to look into the documents/ correspondence exchanged between the parties to find if the debt is a disputed one. 5. The balance sheets filed by the respondent of the year from 01.04.2013 to 31.03.2014 and from 01.04.2 .....

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. Now the court need to examine whether the entry in sundry debtor, made by the respondent is genuine or is a step to camouflage. 6. A bare look at the claim of the petitioner would show the purchase order dated 04.05.2013 is for purchase of 53,000 MT of Natural Gypsum with a price quoted at USD 13.10 per MT and FOB Salalah as per payment of 100% direct, within seven days as per receipt of the document. Copy of purchase order is filed on record. 7. The copy of invoice No.0086 dated 09.05.2013 fo .....

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As stated and hereby we are committing that we will provide you the swift for Balance Payment of MY Stelios B Maximum by Tuesday hence we are trying to make the things possible by Monday itself. We request you to kindly bear with us till the said time. best regards, Akhil Singh Email dated 25.06.2013 at 12.04PM sent by Mr.Rohit Khurana of respondent reads as under:- Dear Mr Alam, We are sorry for the inconvenience, Today we are transferring the payment and you will get swift copy by eod. Meanwhi .....

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27.06.2013 at 11.35AM sent by Mr.Akhil Singh of respondent company reads as under:- Dear, We will give you both the EOD. Also we request you to sent LIA Documents for further processing to avoid any further delay. Regards, Akhil Email dated 01.07.2013 at 01.59PM by Mr.Rohit Khurana of respondent company reads as under:- Dear Mr Alam Already we have send the instruction to the bank for balance payment of MV Stelios B USD 390,000. But today as per RBI no transactions can be placed, so bankers are .....

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13 at 18.06 HRS from Mr.Rohit Khuarana of respondent company reads as under:- Dear Mr Alam, Kindly find the swift copy for remittance of USD 386,261/- against invoice no. 0089 of M V L1A. Due to some banking formalities our banker were unable to remit the M V Stelios B payment. Meanwhile we request you to send the M V Lia documents. Regards Rohit. Email dated 26.07.2013 at 17.25 hrs sent on behalf of respondent company reads as under:- Dear Stelios balance swift will send you on Monday. Regards, .....

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se find the bank acceptance letter and balance for MV Stelios will be remitted in a day or 2. Transfer amt: USD 701500 Kindly confirm the safe receipt. Regards, Akhil Email dated 10.10.2013 sent at 01.54PM to respondent is as under:- Mr. Suchail Kindly reminding you, our overdue balance with you is USD 243,925.23 and please let us know when we can expect our balance payment as you mentioned in our last week discussion over the phone it's matter of 1 week to finalize it but it s going to take .....

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lleges that despite the respondent having promised to make the payment of outstanding dues umpteen times no payment was made. A statutory winding up notice was thus given on 25.02.2015 to the respondent company requiring it to clear the amount due within 21 days, served upon the respondent on 03.03.2015. The respondent did not respond. 10. The emails above do show the respondent never raised any objection qua the quality of the goods or deficiency in service. The case now put by the respondent i .....

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as promising as a debtor to the petitioner asking for time to clear its dues and making excuses. The respondent, though has annexed an email dated 15.10.2013 raising its concerns of the petitioner dealing with M/s Dhofar but it does not give a hint that respondent was in any way a partner to the petitioner or ever invested any money, as alleged. Another email dated 24.03.2015 of defendant is after receipt of the statutory notice probably given to create a dispute in anticipation of a legal actio .....

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