TATA MOTORS LTD. Vs. SUNDEEP POLYMERS (P) LTD.

JUDGEMENT

(1.) The petitioning-creditor, Tata Motors Ltd (previously Tata Finance Ltd; "Tata Motors") claims that an amount of Rs.16,14,515/- remains unpaid despite service of a statutory notice by the respondent company, Sundeep Polymers (P) Ltd. ("Sundeep Polymers") under an agreement dated 20th July 1988, by which Sundeep Polymers took a Mercedes Benz motor car on hirepurchase.

(2.) These are the facts. The parties entered into a hire purchase agreement on 20th July 1988. A copy is at Exhibit "B" to the petition. Sundeep Polymers took a Mercedes Benz motor car, registration number MH-01-V-5848, on hire purchase. Tata Motors was the owner. Sundeep Polymers was the hirer. It was required to pay monthly instalments to Tata Motors. The first of these was to be for Rs.1,32,020/- and the rest were to be of Rs.66,010/-. The aggregate amount payable was Rs.31,68,480/- over three years. Tata Motors claims that Sundeep Polymers was in breach of its contractual obligations. It did not pay overdue instalments despite reminders. Tata Motors' advocates sent a statutory notice dated 23rd February 2001 under sections 433 and 434 of the Companies Act, 1956 to Sundeep Polymers, demanding that the vehicle be returned, or that Rs.15,88,405/- under the Hire Purchase Agreement be paid. Sundeep Polymers replied on 27th February 2001. It complained that the car was defective. It said that it had filed a complaint before the National Consumer Disputes Redressal Forum against Tata Motors Ltd, Concorde Finance Ltd and Mercedes Benz India Ltd. It denied, for these reasons, that it was liable to pay any amount to Tata Motors Ltd.

(3.) Mr. Dileep Nevatia, a director of Sundeep Polymers, appears in person. He has, on behalf of the Sundeep Polymers, also filed Company Application No. 119 of 2014 for dismissal of the petition. He has raised four principal defences to the petition: