WESTERN CANS PVT LTD Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) This application has been filed to permit the petitioner to proceed with the execution petition being E.P.No.88/07-09-2012, pending in the Court of learned Additioinal District Judge, Gurgaon, Haryana.

(2.) M/s.Western Cans Private Limited / applicant seeks leave of this Court to continue with the Execution of proceedings instituted by it against the company in liquidation, i.e. M/s.Rayalseema Commodities Limited (formerly M/s.Sudarshan Overseas Limited).

(3.) It is pleaded, that the applicant entered into a Memorandum of Understanding (MOU) with the company in liquidation on 19.01.2009 for supply of metal cans. The price and quantity to be supplied was agreed between the parties and the company in liquidation had also agreed to prove bank guarantee for a sum of Rs.25,00,000/- (Rupees Twenty Five Lakhs only) and had also agreed to issue post dated cheques towards payment of goods supplied.