DEB PAINTS PVT LTD Vs. UNIVERSAL LIME INDUSTRIES

JUDGEMENT

(1.) This winding up petition has been filed by the petitioning creditor, a partnership firm, against M/s. Deb Paints Pvt. Ltd. (hereinafter called the said company) for recovery of its debt arising out of price of goods sold and delivered to the said Company from time to time.

(2.) The said company was incorporated under the Companies Act 1913 and the authorized share capital of the company is Rs. 5,00,000/- divided into 50,000 equity share of Rs. 100/- each. The principal amount claimed by the petitioner is Rs. 77,299/- along with interest @ 21% from the date of payment till the payment thereof. Thus the total claim was for Rs. 1,05,292.27p.

(3.) On such petition being filed, the learned company judge on 6th November 2000 gave directions for affidavits. It is stated on behalf of the said company that the affidavit was affirmed on behalf of the said company. But the affidavit was not accepted by the learned counsel for the petitioner on the ground of delay. The matter appeared before the learned Company judge on 22nd May 2001 and on that date no one represented the company and the affidavit of the said company was not on record and the learned company passed an order admitting the company petition and also passed an order for insertion of advertisement. The said order was served on the company by the petitioner. Thereafter a further affidavit was filed by the said company praying for recalling of the order dated 22nd May 2001 passed in this proceeding.