INDIAN FOILS LIMITED Vs. SR FOILS LIMITED

JUDGEMENT

(1.) . The petitioner has filed this petition under the provisions of Section 433(e) read with Sections 434 and 439 of the Companies Act, 1956 (for short the Act).

(2.) . According to the petitioner, the respondent owes a substantial amount to the petitioner. However, it is alleged that the respondent is unable to repay its debts. Consequently, the affairs of the respondent deserve to be wound up under the aforesaid provisions of the Act.

(3.) . According to the petitioner, the respondent had issued certain cheques to the petitioner but the same had bounced. Consequently, the petitioner sent notices dated 30/05/2000 under the provisions of Section 138 of the Negotiable Instruments Act demanding the amount from the respondent.