SHRUTI WOOD & WOODS PVT. LTD Vs. STATE

JUDGEMENT

(1.) The company is not represented despite service and despite being forwarded a copy of the order dated February 10,2014 by which directions were issued for filing affidavits.

(2.) An affidavit of service of September 30, 2015 indicates that a copy of the order dated February 10, 2014 was forwarded to the company and the relevant postal article was received by the company on February 25, 2014.

(3.) In the statutory notice of December 28, 2013, the petitioner relied on a loan agreement of June 30, 2011 under which the petitioner granted an amount of Rs. 25 lakh to the company. The loan was to carry interest at the rate of 17.5 per cent per annum and the monthly amount payable was indicated to be Rs. 89,756/ -.