JAGRITI PLASTICS LIMITED Vs. ADHUNIK PACKAGERS (P) LTD.

JUDGEMENT

(1.) THIS Appeal under Section 483 of the Companies Act, 1956 (hereinafter referred to as the Act) is directed against the judgment dated 26.8.2008 passed by a learned Company Judge in Company Petition No. 9 of 2007 whereby he dismissed the petition for winding up filed by the Appellant under Section 433(e) of the Act on the ground that the Respondent Company (hereinafter referred to as the Company) was unable to pay its debts.

(2.) ACCORDING to the Appellant it is a Company engaged in the manufacture and sales of chemicals etc. The Respondent Company used to purchase various types of chemicals from it. According to the Appellant as per the statement of accounts for the period 1.4.2006 to 31.3.2007 the Respondent owed a sum of Rs. 41,15,758/ - as on 22.11.1986. A registered notice was sent to the Respondent Company on 16.5.2007 calling upon them to pay this amount but they did not do so. The Respondent Company did not respond to the notice. Thereafter, a Company Petition was filed and it was contended that an amount of Rs. 41,15,758/ - was due to the Petitioner from the Respondent Company. It was further alleged that since the Respondent had not filed reply to the notice it had virtually admitted the claim of the Appellant.

(3.) AGGRIEVED by the said judgment of the learned Single Judge, the Appellant has filed the present appeal.