FORT WILLIAM INDUSTRIES LIMITED Vs. USHA BELTRON LIMITED

JUDGEMENT

(1.) A petition for winding up was filed by Usha Beltron Limited, a company incorporated under the Companies Act, 1956 for winding up of Fort William Industries Ltd. hereinafter called the said company.

(2.) In the said winding up petition, the petitioning creditor has alleged that its outstanding dues from the said company are to the extent of Rs. 1,90,38,971.65p. The said amount is inclusive of the principal and the claim for payment of interest upto Debit Note dated 29.08.2000. The case of the petitioning creditor is that on the basis of diverse orders placed by the said company, the petitioning creditor from time to time sold the high/low carbon wire rods of diverse specifications at rates and prices agreed upon.

(3.) The above winding up proceeding was instituted in the Hon'ble Court by the petitioning creditor in the month of November 2000.