SH ROSHAN LAL GOYAL Vs. ARTI SOLVEX LIMITED

JUDGEMENT

(1.) The petitioner, as per the averments made in this petition, has to recover a sum of Rs.8,68,656.49 paise from the respondent (hereinafter referred to as 'the company'). After adding interest calculated at the rate of 19.2 per cent per annum amounting to Rs.9,56,551.30 paise, the total claim is for Rs.18,15,207.79 paise. The petitioner states that it has been supplying the company diverse quantities of mustard (Sarson seeds) against various bills, particulars whereof are given in para 7 of the petition. The company has been making payments from time to time. But complete payment was not made and the aforesaid outstanding amount is still due. The company has even confirmed this amount from time to time as is evident from the balance sheets of the company, including for the year ending 31st March, 1998. Accordingly, the legal notice dated 28th March, 2001 was served demanding the aforesaid amount but as the company failed to make the payment, present petition has been filed.

(2.) In the reply filed by the company, aforesaid facts are not disputed. However, the company states that the petition is not maintainable and the claim is not payable and in this behalf following defence is raised:

(3.) It is this defence, therefore, which calls for consideration and arguments were addressed by both the parties on these aspects.