MANJIT KAUR Vs. DURGA BUILDERS PRIVATE LIMITED

JUDGEMENT

(1.) ONE Smt. Manjit Kaur claiming to be the sole proprietor of M/s Kumar Security Syndicate filed a petition under section 433(e), 434 and 439 of the Companies Act, 1956 contending that she had contracted with M/s Durga Builders Pvt. Ltd.- the respondent herein, to provide security services and that bills raised by her upon the respondent company from September, 2003 onwards till 31st July, 2004 for the total sum of Rs. 9,35,800/- had not been paid. She had claimed this amount with interest at the rate of 18% as due and payable. It was further submitted that a legal notice dated 15th April, 2005 had been got served by her through counsel Sh. Vishesh Jain, Advocate whose address was shown as A-104, Lohia Nagar, Ghaziabad. The submission of the petitioner was that despite service of such notice the company had failed to pay the dues and consequently a prayer was made for the winding up of the respondent and appointment of an official liquidator in accordance with section 433(e) of the Companies Act, 1956.

(2.) NOTICE to show cause was issued in this petition. The respondent ? company had duly entered appearance. On 18th October, 2005 it was orally stated by learned counsel appearing for the respondent that the respondent company admits the claim of the petitioner; however, as the company was undergoing some financial crunch, it was unable to make payment to the petitioner. It was further admitted that efforts would be made to make the payment. The next two dates record the submission that some constructive proposal for settlement had emanated between the parties. Further time was sought thereafter to amicably settle the case. In this view of the matter, the case was adjourned on several dates thereafter.

(3.) FINALLY on 18th January, 2008, this court recorded that the company was unable to pay its financial debts and the petition was admitted. The official liquidator attached to this court was appointed as the provisional liquidator with a direction to take over the assets and statutory records of the respondent company and submit the status report. The court also directed publication of citations in the newspapers of the order of admission in compliance with statutory provisions.