TaxTMI 
TaxTMI 
2021 (2) TMI 1392
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....ebts. 2. The petitioners submit that there were business transactions between the petitioners and the respondent and the respondent had approached the petitioners for supply of thread and other related materials and in connection with said transactions, the petitioners had supplied the respondent - Company goods and necessary invoices were raised as detailed in the table at paragraph 7 of the petition. 3. It is further submitted that as regards to the balance of Rs. 18,57,479/-despite the period prescribed in the invoice payments were not made by the respondent with respect to the supplies made by the petitioner - Company. 4. It is pointed out by the petitioners that there was an acknowledgment of the balance of Rs. 18,57,469/- by the re....
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....had stopped. Hence, it is submitted that not only has the Company been unable to pay its debts but in light of the stand taken by the learned counsel for the respondent it is just and equitable that the Company be wound up. 10. Heard learned counsel for the petitioners. 11. It is noticed that the statutory notice has been sent to the respondent-Company as per the copy of the said notice is enclosed at Annexure-F and the postal endorsement states 'Addressee left'. The issue regarding maintainability was kept open, perhaps noticing the nature of service of statutory notice, while issuing notice on 04.12.2015. Insofar as the office objection as regards maintainability, it is to be noticed that the address of the respondent- Company is availa....
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.... stopped long back. In light of the same, it cannot be said that there was any defect as regards service of notice as required under Section 434(1)(a) of the Act and accordingly, the question of maintainability is held in the affirmative. Insofar as the debt of the petitioner- Company the acknowledgment at Annexure-B is the certificate of the respondent-Company as regards confirmation of the balance of Rs. 18,57,469/- is admitted. The e-mail at Annexure-C also indicates that the respondent-Company had undertaken to clear his dues which remained unsatisfied till date. There has been no statement of objections filed to rebut assertion of the petitioner-Company and it could be stated that the Company was unable to pay debt of the petitioner-Co....