AZEET INTERNATIONAL PVT. LTD. Vs. HIMACHAL PRADESH HORTICULTURAL

JUDGEMENT

(1.) THE present petition has been filed by Azeet International (Pvt.) Ltd. (hereinafter referred to as "the petitioner company"), under Sections 433 and 439 of the Companies Act, 1956 (for short, "the Act"), for the winding up of the respondent company, Himachal Pradesh Horticultural Produce Marketing and Processing Corporation Ltd.

(2.) THE averments made in the petition, briefly stated, are these. The petitioner company is carrying on the business of manufacture and sale of corrugated fibre board and boxes for the packing of horticultural produce. On the basis of supply orders placed from time to time during the year 1989 90, the petitioner company supplied 4,15,066 cartons of corrugated fibre board valued at Rs, 69,50,350.50 to the respondent company. The supply so made included the supply of 1806 cartons as samples, valued at Rs. 30,250.50, the agreed value per carton being Rs. 16.75. A sum of Rs. 62,30,312'.75 was paid by the respondent company as part payment towards the cost of cartons supplied. In addition another sum of Rs. 1,97,000 was paid by the respondent company towards freight charges.

(3.) A notice, under Section 434 of the Act, was served upon the respondent company calling upon it to pay the abovesaid amount within three weeks of the receipt of the notice. Despite such notice, the respondent company failed to pay the amount due and to discharge its liability.