HARYANA TELECOM LTD Vs. HIMACHAL FUTURISTIC

JUDGEMENT

(1.) THIS is a petition filed under Sections 433,434 and 439 of the Companies Act, 1956, with a prayer to compulsorily wind up the respondent company, namely, M/s. Himachal Futuristic Communication Limited having its registered office at 8, Electronics Complex, Chambaghat, Solan, H.P.

(2.) ADMITTED facts of the case are that both, ie., M/s. Haryana Telecom Limited, also a company incorporated under the Companies Act, 1956, having its registered office at Kherishadh, District Rohtak, Haryana (hereinafter referred to as the 'Petitioner Company'), and M/s. Himachal Futuristic Communication Limited, having its registered office at 8, Electronics Complex, Chambaghat, Solan, H.P. (hereinafter referred to as 'the respondent'), were having business dealings. During the course of their such business dealings, petitioner, who is manufacturer of Polythene Insulated Jelly Filled cables (hereinafter referred to as 'PLIF cables') supplied these cables to the respondent. These in turn were supplied by the respondent to HFCL Infotel Limited.

(3.) IT is further case of the respondent that vide Annexure R 1, dated 27 2 2003, this position was highlighted to the petitioner with reference to the terms and conditions subject to which purchase orders were placed for purchase of the aforesaid PIJF cables. This resulted in issuing of debit note by the respondent to the petitioner in the aforesaid sum.