SHREE LAKSHMI STEEL SUPPLIERS A PROPRIETARY CONCERN HAVING ITS REGISTERED OFFICE AT NO. 203, 8 PRESIDENT CHAMBERS HAYES ROAD, (OFF. RICHMOND ROAD) BANGALORE 560 025, AND REPRESENTED BY ITS PROPRIETOR SRI VINOD SINGHAL Vs. M/S BBIPL INFRASTRUCTUR

JUDGEMENT

(1.) THIS petition is filed under Section 433 (e) and (f) and Section 434 of the Companies Ac;:, 1956 seeking to winding up of the Respondent -Company by name M/s. BBIPL Infrastructure (India) Private Limited, having its registered office at No. 19. 5th Cross, Swimming Pool Extension, Maileshwaram, Bangalore -560 003.

(2.) IT is contended by the petitioner that the petitioner is a proprietory concern engaged in the business, interalia, of supplying steel used for construction and fabrication. The Respondent is a Company incorporated on 11.4.2003 with the authorised capital of (Rs. 19,20,00,000/ - divided into 1,92,00,000/ - Equity Shares of (Rs. 10/ - each. The object of the Company is to build, construct, promote and develop layouts and houses etc, as per the Memorandum of Association of the Company. It is stated by the petitioner that pursuant to the purchase orders placed by the respondent, the petitioner has supplied goods to the Respondent -Company and that Respondent -Company is due in a sum of (Rs. 86,99,968/ - and the statutory notice of demand was issued on 1.3.2010 calling upon the respondent to pay the amount with the interest at 24% p.a. However, despite the said notice, the respondent has not paid the amount to the petitioner and hence left with no other alternative, the petitioner has filed this petition for winding up of the Respondent -Company.

(3.) HEARD Miss Sumana Naganand, learned Counsel for the Petitioner.