JYOTI LIMITED Vs. UEE ELECTRICAL ENGINEERS PRIVATE LIMITED

JUDGEMENT

(1.) By this order I propose to dispose of the application filed by the respondent seeking for modification of the order passed by this court on 18th January, 1999 in C.A. No. 1887/98.

(2.) The petitioner filed a petition, in this court under Sections 433 (e), 434 and 439 of the Indian Companies Act, 1956 against the respondent praying for winding up of the respondent company on the allegation that the respondent is unable to pay its debts. During the pendency of the aforesaid petition the petitioner filed an application under Rule 9 of the Companies (Court) Rules, 1959 which was registered as C.A. No. 1887/98. By order dated 18.1.99 this court passed an order on the aforesaid application directing the respondent company to deposit in court a sum of Rs. 50 lacs within two weeks therefrom. Seeking modification of the said order this application has been filed contending, inter alia, that no amount is due and payable by the respondent for the fact that the petitioner is yet' to rectify the discrepancies in the material supplied, as sought for by the Delhi Jal Board.

(3.) I heard the learned counsel appearing for the petitioner as also the counsel appearing for the respondent.