TMI Blog2018 (9) TMI 596X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner by eight equal monthly instalments. By the first seven equal monthly instalments the company shall pay the principal amont of ₹ 1,74,65,867/- and by the last instalment the company shall pay the interest amount to the petitioner. The first of such instalments shall be paid by the company to the petitioner, within August 31, 2018 and the subsequent instalments shall be paid to the petitioner within the 10th day of each succeeding month. In the event of any failure on the part of the company to pay any one of the above instalments within the time stipulated above, the petitioner shall be free to advertise this application once in the English newspaper, "The Statesman” and once in the Bengali newspaper, “Bartaman”. In the said n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 1956 the petitioner called upon the company to pay the outstanding amount of ₹ 1,74,65,867/- as admitted by itself in the said account confirmation. The company received the said notice dated March 15, 2016 but neither did it reply to the same, nor made did it payment to the petitioner. Thus, the petitioner filed the present application for winding up of the company. The company filed its affidavit-in-opposition to this application. alleging that by various letters between February 17, 2012 and May 22, 2013 it informed the petitioner of defective supply as also short supply of coal. In this connection, the company disclosed the letters dated February 17, 2012, May 08, 2012, June 30, 2012, August 28, 2012, November 29, 2012, Janu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... afterthought and devoid of any merit. It was submitted that the officer of the company who prepared the said account confirmation has not affirmed any affidavit stating that he was not conversant with the details of the transactions between the parties. Even the petitioner did not withdraw the said account confirmation. So far as the alleged letters dated February 17, 2012, May 08, 2012, June 30, 2012, August 28, 2012, November 29, 2012, January 28, 2013, March 28, 2013 and May 22, 2013 disclosed by the company in its affidavit-in- opposition, the petitioner submitted that none of the said letters suggested the company has suffered any loss for any act of the petitioner towards supply of coal against the relevant purchase orders. The petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed only to delay the realisation of the bona fide claim of the petitioner. Urging all these, it was strenuously argued for the petitioner that the company has failed to disclose any bona fide defence to the petitioner s claim in this application and, as such, this application should be admitted. It was, however, contended on behalf of the company that since the said account confirmation for the period April 1, 2013 to July 27, 2015 was prepared by an officer who was not conversant with the relevant facts of the case, the petitioner cannot maintain its present claim against the company on the basis of the said document. It was submitted that in its affidavit-inreply the petitioner has alleged that the said letters dated February 17, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any communication to the petitioner alleging the said document to be incorrect or that the same should not be acted upon. Further, when the said account confirmation disclosed the outstanding dues of the company to the petitioner was arrived at ₹ 86,17,084/- after deducting the various amounts from its respective invoices, the company could not point out any error in the entries or calculation reflected in the said document. The said letters dated February 17, 2012, May 08, 2012, June 30, 2012, August 28, 2012, November 29, 2012, January 28, 2013, March 28, 2013 and May 22, 2013 were issued by the company to the petitioner in respect of five separate purchase orders and none of the said letters suggested any alleged claim of the compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... make out any bona fide defence to the claim of the petitioner in this application. Accordingly, this winding up application against the company is admitted for a sum of Rs .1,74,65,867/- with interest thereon, at the rate of seven per cent (7%) , per annum from the date of receipt of the statutory notice dated March 15, 2016 till the date of payment. The company is directed to pay the said principal amount of ₹ 1,74,65,867/-, together with interest to the petitioner by eight equal monthly instalments. By the first seven equal monthly instalments the company shall pay the principal amont of ₹ 1,74,65,867/- and by the last instalment the company shall pay the interest amount to the petitioner. The first of such instalments shall ..... X X X X Extracts X X X X X X X X Extracts X X X X
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