EXCEL GENERATORS PRIVATE LTD Vs. MEGHAMANI ORGANICS LTD

JUDGEMENT

(1.) IN present petition under section 433 read with section 434 of the Companies Act, 1956 (hereinafter referred to as the Act) the petitioner has prayed, inter alia that: -

(2.) THE petitioner has taken out present petition on the premise and the allegation that despite repeated demands and even after statutory Notice the respondent company has not paid balance amount out of the total price of the two Deasel Generations Sets (D.G. Sets for short) purchased by the respondent. The petitioner has also alleged that it is the respondent company herein who initiated negotiations with the petitioner for purchasing Deasel Generating Sets and called for quotations from the petitioner for two DG sets.

(3.) WITH the said allegations in the backdrop the petitioner has preferred present petition and claimed that the respondent company may be directed to be wound up and as it has, without justification and bonafide defence and on dishonest plea, failed and neglected to discharge its debts and that the respondents action of non -payment of petitioners dues amounts to neglect to pay and /or inability to discharge its debt.