S PALANI Vs. MALLANGOUDA

JUDGEMENT

(1.) I have heard the arguments of the petitioner's counsel and also the learned counsel appearing for the respondent.

(2.) The factual matrix of the case is that the petitioner is the resident of Namakkal Town in Tamil Nadu. The son-in law of the petitioner namely, Murugesan was the Managing Director of M/s. Poorani Feeds Pvt. Ltd., which is a company incorporated under the Companies Act, 1956 and inter alia engaged in the business of manufacture of Poultry/cattle feeds. The company during the course of its business appears to have purchased raw materials from various suppliers across India, including the respondent herein.

(3.) Due to the sudden outbreak of Bird Flue in India during early 2006, the business of the company was greatly affected. As a result, the company has sustained huge loss and started to default in payment to the suppliers who had supplied raw materials to the Company on credit basis. The son-in-law of this petitioner who was the Managing Director of the Company has committed suicide on 5/3/2006.