NATIONAL ALUMINIUM COMPANY LIMITED Vs. SGN TELECOMS LIMITED

JUDGEMENT

(1.) Present is the petition for winding up of respondent company, originally incorporated as SGN Cable Industries Pvt. Ltd on 16.04.1986. On 02.01.1993, the respondent company was subsequently converted into a Public Limited Company by deleting the word "Private" from its name. The name of the respondent company was further changed to M/s SGN Telecom Limited w.e.f. 18.04.2000.

(2.) The petitioner is a Govt. of India Undertaking duly registered under the Companies Act, 1956 (for short "the Act"). It is averred that the petitioner filed a suit for recovery of Rs. 16,52,957/-. The said suit was decreed on 11.03.2005 along with future interest at the rate of 20.25 per cent per annum from the date of decree till payment. It has been further pleaded by the petitioner that in the suit the respondent company was proceeded ex parte though the transporter M/s East India Transport Agency contested the suit. The operative part of the decree dated 11.03.2005 reads as under:

(3.) It is pointed out that, in fact, on 12.05.1992, the respondent placed an order for supply of 100 MTs of E.C. Grade wire rods. The said communication has been produced as Annexure P-6. It is mentioned therein that two full truck load of E.C. Grade Aluminium wire rod on credit basis be supplied and the respondent company undertook to make payment in due time. In pursuance of such request, the petitioner supplied 9.390 MTs of E.C. Grade wire rods on 17.06.1992 valued at Rs. 5,54,133/- and 9.217 MTs of E.C. Grade wire rods on 16.07.1992 valued at Rs. 5,43,924/-.