MAINI PIPES P LTD Vs. DELITE INDUSTRIES

JUDGEMENT

(1.) THIS petition under section 446 (2) read with section 468 of the Companies Act, 1956, has been filed on behalf of Maini Pipes Pvt. Ltd. in liquidation through the official liquidator attached to this court for the recovery of Rs. 19,500 together with interest at the rate of 18 per cent. per annum.

(2.) THE petitioner-company which was incorporated under the provisions of the Companies Act, 1956, on September 14, 1979, was directed to be wound up, vide order dated August 17, 1990, passed in Company Petition No. 60 of 1988. Upon passing of the order of winding-up, the official liquidator attached to this court was ordered to be the official liquidator of the company and was directed to take over the assets, records, statutory books and other properties of the company. The managing director of the company filed statement of affairs with the official liquidator of the company and on the basis of the account books maintained by the company in normal course of its business, it was observed that the respondent-company owes a sum of Rs. 19,500 to the petitioner-company. Notice dated January 24, 1991, was issued by the official liquidator requiring the respondent-company to pay the amounts due to the company. The copies of the notice and acknowledgment due card have been placed on record, permission to the official liquidator to file and defend the proceedings on behalf of the company under section 457 of the Companies Act, 1956, was granted by the court vide order dated October 11, 1990, passed in Company Petition No. 82 of 1990. On these facts, the petitioner-company has claimed a sum of Rs. 19,500 together with interest at the rate of 18 per cent. per annum from the date of the last transaction, which is dated November 20, 1988. Upon notice written statement was filed on behalf of the respondent-company. Preliminary objection with regard to limitation was raised. It was stated that the alleged cash entry of Rs. 500 (five hundred rupees) on November 20, 1988, is false and has been made in the books of account only to claim extension of limitation.

(3.) ON the basis of these rival pleadings, the court vide its order dated August 26, 1994, framed the following issues :