EXPRESS LEASING LTD. Vs. OMEGA AGRO LTD.

JUDGEMENT

(1.) It is alleged in para 3 of the affidavit in reply dated 28-1-1995 that a sum of Rs. 1,50,00,000 which was advanced to the company as inter-corporate loan is already repaid by the company. It is alleged that on 22-3-1991, the respondent-company paid the said amount to the petitioners by cheque bearing No. 106512 dated 22-3-1991, drawn on the State Bank of Indore, Fort Branch, Bombay and the said cheque was encashed by the petitioners through their Current Account bearing No. 660/7 with the Jammu & Kashmir Bank Ltd., Fort Branch, Bombay.

(2.) It is the case of the petitioners that the petitioners never had any current account bearing No. 660/7 with the Jammu & Kashmir Bank Ltd., Fort Branch, Bombay. It is the case of the petitioners that the petitioners had never received this above-referred cheque from the company.

(3.) It is found that a bank account exists in the name of Express Leasing Ltd. with the Jammu & Kashmir Bank Ltd. and the said account was opened by one Mr. Mavur Parekh. It is alleged that the petitioner-company had never authorised Shri Mavur Parekh to open the said bank account in the name of the petitioner and operate the same. It is the case of the petitioner that no Board Resolution was ever passed by the petitioner in this behalf and Shri Mavur Parekh was never the shareholder or the Director of the petitioner-company.