LABDHI ENTERPRISES Vs. BARAMATI AGRO LIMITED

JUDGEMENT

(1.) It is a Company Petition initially filed before the Hon'ble High Court of Bombay under Section 433, 434(e) and 439 of the Companies Act, 1956, for winding up of the Company called Baramati Agro Ltd. on the ground that this Debtor Company defaulted in making payment of Rs. 27,97,696/- to the Petitioner.

(2.) It is the case of the Petitioner that it supplied goods to the Corporate Debtor from time to time and the same was received by the Corporate Debtor Company without raising any dispute, when the Debtor failed to repay the amount of Rs. 27,97,696.16/- towards the invoices raised by the Petitioner against the Debtor company, the Petitioner issued statutory notice under Section 434 of Companies Act, 1956 but in vain.

(3.) To prove the claim made by the Petitioner, the Petitioner hereby relied upon a letter dated 10.3.2016 received from the Income Tax Authorities, showing that a reply has been received from the Debtor along with a copy of the printed ledger from 1.4.2012 to till that date, showing NIL balance, henceforth, the Income Tax Authorities asked explanation from the Petitioner Company to explain the difference immediately along with documentary evidence. The Income Tax Authorities wrote this letter on the letter dated 4.3.2016 came from the Petitioner stating that the debtor company owed to pay Rs. 27,97,696.16/-, towards the goods supplied to the Debtor and no objection was raised by them about the quality and quantity supplied by them.