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TMI Blog2018 (5) TMI 2154X X X X Extracts X X X X X X X X Extracts X X X X ..... p of the company VKS Projects Limited (the said company) on the grounds that the company is unable to discharge its debts and commercially insolvent. 2. It is the case of petitioner that pursuant to a purchase order dated 28.3.2013, the company agreed to purchase from petitioner various quantities of SS, CS & GI pipes of a total value of Rs.16,16,861/. Petitioner supplied the goods and raised an invoice dated 26.3.2013. By a letter dated 16.4.2013 petitioner submitted the invoice and also test certificate for the goods supplied. It is stated that the company issued a cheque for Rs.17,49,266/ which came to be dishonoured due to payment being stopped by the company. Thereafter, by a letter dated 17.9.2013 the company assured peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company had issued stop payment instructions because during the inspection, the materials to be supplied by petitioner were found to be defective in dimension, quality and usual appearance and according to the company the material as mentioned in the invoice was never supplied. It should be noted that there is not a single correspondence annexed to the affidavit in reply and counsel for the company could not even point out. If what company says is to be accepted, certainly there would have been some communication from the company to petitioner informing petitioner that goods have not been supplied and therefore, post dated cheque should be returned. 5. So far as the payment of Rs.5,00,000/ to petitioner, it is stated in the affidav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spapers, viz. `Free Press Journal' (in English) and `Navshakti' (in Marathi) and also in Maharashtra Government Gazette. Any delay in publication of the advertisement in the Maharashtra Government Gazette, and any resultant inadequacy of notice shall not invalidate such advertisement or notice and shall not constitute noncompliance with this direction or with the Companies (Court) Rules, 1959 ; (iii) Petitioner shall also deposit an amount of Rs.15,000/with the Prothonotary and Senior Master of this Court towards publication charges, within a period of two weeks from the date of this order, with intimation to the Company Registrar failing which the petition shall stand dismissed for non prosecution without further reference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o.M1814. Notice under Rule 28 of the Companies (Court) Rules, 1959 has been waived at the time of admission. 5 The defence of the company raised in the affidavit in reply has already been dealt with in the order passed on 27th February, 2018 while dmitting the petition. The defence raised by the company has been dismissed as afterthoughts, moonshine, bogus and unsustainable. 6 I have considered the petition, the documents annexed thereto and also heard Mr. Akbari, counsel for petitioner. I am also satisfied that the company is indebted to petitioner, is unable to discharge its debts, is commercially insolvent and requires to be wound up. 7 In the circumstances, company petition is allowed in terms of prayer clauses - (a) and (b) whi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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