SHREEJI OVERSEAS INDIA PVT LTD Vs. PEC LTD

JUDGEMENT

(1.) ON the previous date, I had recorded in sum and substance, the issue, which arose qua the said application. In order to avoid repetition, the relevant paragraphs of the said order are reproduced hereinbelow :

(2.) IN consonance with the directions issued, the applicant/petitioner has filed its balance sheets for the financial years 2010 2011, 2011 2012 and provisional balance sheet / profit and loss account for the year ending 31.03.2013.

(3.) I have perused the balance sheets filed by the applicant / petitioner. A perusal of the balance sheet / profit and loss account for the year ending on 31.03.2013 would show that the petitioner has a turnover for that particular financial year i.e., 2012 2013 of Rs.91,05,36,645/ though there is a sharp decline as compared to the previous financial years.