JAGDEV PRASAD BAJAJ Vs. TIRRIHANNAH CO. LTD.

JUDGEMENT

(1.) THIS is an application filed under Sections 433 and 434 of the Companies Act, 1956.

(2.) THE case of the petitioner is that for price of goods sold and delivered to the company between April, 2005, to March 31, 2006, bills were raised. The same were received by the company without any objection. Part payments were made and after giving credit for such payments there remains a sum of Rs. 2,56,849 payable by the company to the petitioning creditor. The said amount is reflected in the ledger account of the company and a statutory notice under Section 433 of the Companies Act was sent to the company on August 13, 2007. The same though received has not been replied to by the company and the amounts outstanding in the ledger account evidence the inability of the company to pay its debts. Therefore, the winding up petition be admitted for the said sum and the company be directed to pay interest thereon.

(3.) COUNSEL for the petitioner -in -reply submits that for the payments made credit has been given and the disputed bills have been dealt with in paragraphs 11,12 and 13 of the affidavit -in -reply, affirmed on March 27, 2008. In fact, no contemporaneous document has been produced to refute the disputed bills. It has never been pleaded that such bills were fictitious, or were not received by the company. The statutory notice was issued in August, 2007 and the same was received during the tenure of the old management. No reply has been given to such statutory notice and the pleas sought to be raised by the company after the new management took over in November, 2007, cannot be justified. The defence of the company is moonshine and orders be passed as sought for. Reliance has been placed on the decision in Bangasri Ice and Cold Storage Ltd. v. Kali Charan Banerjee and Medical Systems P. Ltd. v. : AIR2005SC4175 .