TMI Blog2012 (3) TMI 688X X X X Extracts X X X X X X X X Extracts X X X X ..... was incorporated on 13/04/2006 under the provisions of The Companies Act, 1956 ( the Act ). 2. According to the Petitioner, in pursuance of the Orders placed with them from time to time by the Respondent Company, the Petitioner sold, supplied and delivered to the Respondent Company DPC paper covered copper conductor ( the goods ). The copies of the purchase order are annexed as Exhibits A1 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent Company to make the payments. However, the Respondent Company, by its reply (Exhibit F to the Petition), alleged delay on the part of the Petitioner qua the supplies and also alleged that there was short supply on the part of the Petitioner because of which the Respondent Company was compelled to purchase material from other parties which has resulted in a loss of ₹ 5.00 Crores to the R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eafter filed the above Company Petition. An Affidavit proving service of the Petition on the Respondent Company by the Petitioner dated 26th December 2011 is on record. It is therefore submitted on behalf of the Petitioner that the Respondent Company is unable to pay its debts. It is submitted that the Respondent Company has not only refused to accept service of the statutory notice, but has also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y its debts. Hence the following Order : i) The Company Petition is admitted and made returnable on 25th April 2012. ii) The Petition shall be advertised by the Petitioners in two local newspapers namely Free Press Journal (in English), Maharashtra Times (in Marathi) and in Maharashtra Government Gazette. iii) The Petitioners shall, within a period of three weeks from today, deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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