CEIGALL INDIA LTD Vs. SANGHI DISTRIBUTORS

JUDGEMENT

(1.) This is an appeal against the order of the learned Company Judge winding up the appellant company on the ground that it is unable to pay its debts. Prior to the order the petition had been admitted by an order and judgment dated 16.02.2015. The learned Company Judge, however, had granted the appellant four months' time to settle its dues by staying the publication of the order of admission. The appellant failed to avail the opportunity, as a result whereof the petition was advertised.

(2.) As the position remained the same and the learned Judge hearing the petition finally apparently agreed with the reasoning in the order of admission, the appellant company was ordered to be wound up by the impugned order.

(3.) The respondent agreed to sell to the appellant certain goods on the terms and conditions contained in and evidenced by six purchase orders placed in or about February, 2011. The goods were to be delivered by 30.04.2011. The payment was to be made within seven days of the material being supplied to site against each consignment.