ALPHA PACKAGING LTD. Vs. SOM DISTELLERIES LTD.

JUDGEMENT

(1.) This petition under Section 439 read with Section 434 of the Companies Act, 1956 has been filed seeking winding up of respondent Company.

(2.) The facts, leading to filing of this petition in nutshell, are that the petitioner is a company registered under the provisions of the Companies Act, 1956 (hereinafter referred to as 'the Act') which deals in manufacture sale of pet bottles. The respondent is also registered as a Company under the provisions of the Act and deals in the business of manufacture and sale of liquor. The business transactions between the parties started in the year 1996-97, when the respondent placed a purchase order with the petitioner for supply of pet bottles. The respondent opened a current account in their books of accounts in the petitioner's name. The payments were made by issuance of cheque and against such payments the supplies were made.

(3.) As per the case of the petitioner the respondent vide communication dated 11.12.1997 acknowledged its' liability to pay a sum of Rs.32,09,813. On 31.1.1999 an amount of Rs.27,12,437 was due and payable by the respondent. The petitioner thereupon sent notices dated 18.2.1999 and 22.6.1999 demanding payment, however, the amount due to the petitioner was not paid by the respondent. It is pertinent to mention here that the respondent filed a complaint before the Judicial Magistrate First Class, Raisen for offences punishable under Sections 120B, 420, 467 and 506 of the Indian Penal Code for making forged entries in the ledger against the petitioner. Thereafter the petitioner filed this petition on 25.10.1999 on the ground that the respondent should be wound up as it is unable to pay the debt which is due and payable by it.