UMA KUMAR Vs. REUNION ELECTRICAL MANUFACTURERS P. LTD.

JUDGEMENT

(1.) This is a petition under Sections 433 and 434 of the Companies Act, 1956 , seeking winding-up of the respondent-company.

(2.) According to the petitioner, the company is indebted to her in the sum of Rs. 13,19,853.48 together with interest thereon. The petitioner carries on business as the sole proprietor in the firm name and style of M/s. Kandhan Electricals and Engineers. The petitioner's case is that pursuant to purchase orders placed by the company she supplied goods on the terms and conditions contained in 58 invoices, the details whereof are tabulated in paragraph 8 of the petition. The invoices were issued during the period April 9, 2001 to November 3, 2001. The only defence is that the claims are barred by limitation as the petition was filed on August 9, 2005.

(3.) By its letter dated November 5, 2001, the company acknowledged its liability in the sum of Rs. 6,61,540.27 by a letter dated November 22, 2001, the company assured the petitioner that it would make payment at the earliest and expressed its gratitude for the co-operation extended by the petitioner. By a letter dated April 19, 2002, the company assured the petitioner that it would initiate action shortly to clear all her dues and regretted the inconvenience caused to the petitioner.These letters however do not save the bar of limitation for the petition was filed on August 9, 2005, i.e., more than three years after the last acknowledgment dated April 19, 2002.