1984 (11) TMI 282

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..... Arun Sanghi for the Appellant. R.L. Batta for the Respondent. JUDGMENT We have heard learned counsel for the parties and find no merit in this appeal. It is contended by Mr. G. R. Majithia, senior advocate and learned counsel for the appellant, that the appeal is liable to be admitted as a matter of routine. This contention of learned counsel is liable to be rejected straightaway .....

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..... whether a bona fide dispute exists between the parties regarding payment of interest, on the facts and in the circumstances of the case, has to be decided against the appellant. In the invoices, F-1 to F-6, it is mentioned that if the amount is not paid before a particular date, then the respondent would be liable to pay interest at the rate of 19.5% per annum. The goods were accepted by the res .....

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..... blished that at no point of time the appellants denied their liability to pay interest. In para 7 of the petition for winding up, it is stated that from time to time, the respondent company has been confirming the correctness of and/or invoices raised by the petitioner and this averment has been admitted by the appellant in his written statement. In para 12, it is stated in the petition that on Ma .....

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..... stances of the case, rightly held that the appellant is liable to pay interest. It is next contended by learned counsel that the learned single judge has fallen in error by relying on the general custom of trade that the purchaser is liable to pay interest if the price of the goods is not paid within a reasonable time, in the absence of any pleadings in this respect. In our view, learned counsel .....

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..... w, are on the facts of those cases and cannot be relied upon, especially when it has been found as a fact that the appellant is liable to pay interest. It is also contended by learned counsel that a second petition for winding up did not lie in the wake of the dismissal of the earlier petition. This contention is liable to be rejected on the short ground that no such plea was raised before the l .....

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