G R S CONSTRUCTIONS Vs. SYNERGETICS LIMITED

JUDGEMENT

(1.) This petition under s. 433(a) of the Companies Act, 1956, is for winding up of the respondent company stating that the company ownes a sum of Rs. 89,118.59, with interest. After certain demands, a statutory notice was issued on 27/12/1981, and was acknowledged on 30/12/1981. However, on 20/04/1982, the managing director of the company asked the petitioner to withdraw the statutory notice. The statutory notice was accordingly withdrawn by the petitioner on 20/04/1982, itself. It is averred in the petition that along with the letter of withdrawal, another letter has been sent and the same has been acknowledged by the company. However, after the letter of withdrawal, the amount which was still outstanding, when demanded, was refused to be paid. Several letters were, thereafter, sent demanding the payment but the same were not at all respondent and, hence, this company petition.

(2.) A preliminary objection is raised by the respondent company on the ground that unless a statutory notice as contemplated under s. 434(1)(a) of the Companies Act is once again issued, the company petition itself is not maintainable. The learned counsel for the petitioner submits that though the statutory notice has been withdrawn, it was, however, accompanied by a letter to the company asking for payment as early as possible, and so the claim cannot be said to have been withdrawn and it is still in subsistence and inasmuch as payment admittedly has not been made, he is entitled to maintain the company petition. He relied upon the judgment in Pandam Tea Co. Ltd. v. Darjeeling Commercial Co. Ltd. [1977] 47 Comp Cas 15 (Cal).

(3.) Before adverting to the arguments of the learned advocate for the petitioner, the statutory provisions as well as the relevant letters amy be noticed. Section 434 of the Companies Act reads :-