TRADECOM INFRASTRUCTURE PVT LTD Vs. S S INFRASTRUCTURE

JUDGEMENT

(1.) This winding up application has come up for final hearing after admission. On 23rd March, 2011 the application for winding up was admitted upon proper consideration of the matter. In the order dated 23rd March, 2011 it was recorded that the Company did not give reply to the statutory notice. At the admission stage in spite of service of notices Company did not appear nor filed any affidavit against the winding up petition and order for paper publication was made. After paper publication when the matter appeared before this Court, the Company made a prayer for recalling the order dated 23rd March, 2011 and also wanted to use affidavit. Directions for affidavits were given and after exchange of all affidavits the matter was finally heard with the application for recalling. After careful consideration of the matter and considering the conduct of Company I do not see any reasonable ground to recall the order dated 23rd March, 2011. Mr. Basak appearing for the petitioning creditor submitted that this petition was moved upon notice, but nobody appeared for the Company; no opposition was filed; the company petition was admitted and publication was made as per the order passed by this Court. After the paper publication was made, the Company appeared through their counsel. However, interim orders were passed directing Reliance Telecom to deposit the amount due and payable to the Company with the Registrar of this Court. Pursuant to such direction. Reliance authorities deposited the amount with the Registrar, Original Side of this Court and that amount is lying with the Registrar, Original Side. It was also submitted by him that the defect liability period for nine Towers expired in August, 2007 and, therefore, the petitioner is entitled to get an aggregate sum of Rs. 74,77,411.64 P. as raised in the invoice. They are also entitled to interest at the rate of 18% per annum on and from the respective dates of the bills until realisation and the company is liable to pay the same.

(2.) Mr. Basak submitted that the agreed bill amount of Rs. 74,77,411,64 P. less 25% as commission receivable by the company comes to Rs. 56.08,058.73 P. and interest at the rate of 18% per an num on and from the respective dates of the bills till 30th June 2010 comes to Rs. 30,25,351.33, thus the aggregate amount of Rs. 86,37,84.410/- is due and payable from the company. Mr. Basak also submitted that they are also entitled to get interest at the rate of 24% per annum on and from 1st July, 2010 till the date of payment.

(3.) It is submitted that the Company raised the bill against Reliance Telecom Ltd. and they have already realised the entire amount from Reliance Telecom and after deducting 25% as commission for the Company, the rest amount was to be paid to the petitioner.