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Issues involved:
Winding up petition for balance price of goods sold and delivered, maintainability of the petition due to earlier dismissal, defense raised by the company, admission of dues in the balance-sheet, payment terms, recovery proceedings. Analysis: The High Court of Calcutta heard a winding up petition concerning the balance price of goods sold and delivered totaling Rs. 2,33,360, with no response to the Statutory Notice of Demand. The petitioner had previously withdrawn a winding up petition on the same cause of action, reserving the right to reapply. The company, in its Affidavit-in-opposition, argued that the present petition was not maintainable due to the earlier dismissal and highlighted a separate issue regarding a machine given for repair causing substantial loss to the company. Upon reviewing the pleadings, documents, and the company's balance-sheet as of March 31, 2003, the court found the company's defense aimed at evading payment, as acknowledged in their balance-sheet. The company's counsel contended that the admitted amount in the balance-sheet might pertain to different transactions, not the specific one in question. However, the petitioning creditor's counsel asserted that the outstanding claim in the winding up petition was acknowledged in the balance-sheet, leading to the admission of the petition for Rs. 2,33,360 with 6% interest per annum from August 2, 2002, payable in 12 monthly installments. In case of default in payment of any installment, the petitioner was granted the right to pursue recovery through appropriate proceedings, treating the court's order as a decree. The court disposed of the case with no order as to costs, marking the end of C.P. No. 91 of 2004.
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