ASIAN STEELS Vs. SHREE BIHARI FORGINGS (P) LTD.

JUDGEMENT

(1.) Present winding up petition has been filed under Section 433(e) read with Sections 434 and 439 of the Companies Act, 1956 stating that the respondent is unable to pay its debts allegedly amounting to Rs. 15,06,980/-. In the petition, the petitioner has relied upon a confirmation of accounts at page 41 whereby the aforesaid amount of Rs. 15,06,980/- was confirmed by the respondent as outstanding and payable as on 1st April, 2007. The petitioner has also relied upon two unpaid invoices for an amount of Rs. 12,66,148/- pertaining to goods stated to have been supplied by the petitioner to the respondent-company against which the respondent was also obliged to furnish a Form 3B under Sales Tax but failed to do so.

(2.) The respondent in its reply affidavit has stated that the alleged confirmation of accounts at pages 41 and 42 of the paper book is a forged and fabricated document. It is stated in the reply affidavit that the said confirmation of accounts has neither been signed by any authorized person on behalf of the respondent nor does it bear respondent company's genuine stamp. During the course of arguments, learned Counsel for the respondent has also referred to a debit note dated 4th December, 2006 raised by the respondent upon the petitioner-company.

(3.) Learned Counsel for the respondent states that entire amount due and payable by the respondent to the petitioner under the invoices has been paid. He further states that the petitioner firm is not a registered firm and by virtue of Section 69 of the Partnership Act, 1932 it is barred from filing the present petition.