PREMLAL BIRLA Vs. GILT PACK LTD

JUDGEMENT

(1.) THIS is a company petition filed by petitioner under Section 433 (e) of the Companies Act seeking winding up of the respondent Company by name M/s. Gilt Pack Ltd. herein after referred to as "company" essentially on the ground covered under Section 433 (e) of the Companies Act.

(2.) THE Company is having its place of business and registered office at Indore. It is the case of petitioner that they being the transporter and engaged in the said business, have on several occasions transported companies H. D. P. E. Bages. According to petitioner, a sum of Rs. 1,02,440 remains outstanding on the respondent towards payment of petitioner's unpaid bills which they had sent for doing transportation work. It is alleged that though several reminders were sent by the petitioner to the respondent but they were of no avail. Lastly, notice under Section 434 of the Act was also served demanding outstanding but the same was also not paid and hence, this petition for winding up of Company on the ground of deemed unable to pay the debt of petitioner. The case of the Company in the return is that of denial. In other words, the Company has denied their liability to pay the alleged amount. According respondent, they have to recover a sum of Rs. 16,800 from the petitioner after finalizing the accounts between them. The respondent Company has then in detail pleaded their case explaining the manner in which one consignment of respondent was dealt with by the petitioner resulting in huge losses to respondent-Company. The Company has also filed entire correspondence exchanged between the parties in relation to the transaction to show that due to petitioner's bad handling, the loss was occasioned to Company.

(3.) HEARD Shri V. Dalai, learned counsel for the petitioner and Shri B. K. Dubey, learned counsel for the respondent.