UNIVERSAL BEARING AGENCY Vs. WPIL LIMITED

JUDGEMENT

(1.) This appeal is against the order dated 31.1.2005 passed by a learned Single Judge of this Court in C. A. No. 756 of 2004 arising out of C. P. No. 651 of 2001 whereby and whereunder he was pleased to direct that if the appellants have any further claim in respect of interest then they would be at liberty to take steps before the appropriate forum.

(2.) In order to appreciate the arguments, it will be necessary to advert, very briefly, to the facts which are involved in this case. It appears that the appellants herein filed a winding up petition alleging that the respondent company was indebted to them to the extent of Rs. 14,81,239.20/- on account of the balance price of the goods sold and delivered which, according to them, the company had failed to pay notwithstanding service of notice under section 434 of the Companies Act, 1956. The aforementioned application for winding up was taken up on 10.10.2002 by a learned Single Judge of this Court who admitted the application after holding that the said; company was indebted to the appellant/petitioning creditor to the extent of Rs. 14,81,239.20/-on account of balance price of the goods sold and delivered which the said company was liable to pay together with interest at the rate of 12% per annum under section 61 of the Sale of Goods Act from the date of the respective bills till the date of payment. The appellant/petitioning creditor was also held entitled to costs which was assessed at 300 GMs.

(3.) After having held in the manner indicated above, the learned Single Judge admitted the application and directed the appellant/petitioning creditor to cause an advertisement to be punished, one in the' Statesman and the other, in the Ananda Bazar Patrika within a period of 3 weeks after vacation and also directed that the matter the made returnable 6 weeks after the vacation.