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TMI Blog1989 (12) TMI 243X X X X Extracts X X X X X X X X Extracts X X X X ..... 7,55,760.40 to the petitioner-firm on account of the price of the material/goods supplied to it. As per the practice of business prevalent between the parties, the petitioner-firm would send quotations of the material to be purchased by the company and, in turn, the company would send the purchase orders mentioning the price of the material/goods along with the terms of payment. On receipt of these orders, the petitioner would supply the articles ordered along with a duplicate copy of the challan. The said challan used to be signed by the competent official of the stores department of the company on receipt of the goods. Later, the payment used to be remitted by the company to the petitioner. At times, in case of urgency, the company wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... later in due course. It is further maintained on its behalf that whenever the goods were not up to the standard or the petitioner had mentioned a higher rate than the market rate of the goods supplied, the petitioner would take back its goods, cancel the bills and rectify the accounts. As per the running account of the company, an amount of Rs. 3,62,830.49 was due and payable to the petitioner-firm. The respondent not only expressed its readiness and willingness to pay this amount but has actually paid the same through different cheques to the petitioner during the course of these proceedings. While denying the rest of the claim of the petitioner, it is highlighted on behalf of the respondent that either the goods supplied by the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt this financial status, the company even produced a certificate from the Allahabad Bank saying that they are always ready and "willing to pay any amount that may be required to be paid" and can stand guarantee for the same. In order to fortify its plea that it is a company of substance, it has tagged its annual report for the year 1987 as annexure P-1 to the written statement. Having considered the various submissions of learned counsel for the parties in the light of their respective pleadings, I am of the view that the petitioner deserves to be non-suited, as there is hardly any material to show that the company is unable to pay its debts or that the dispute raised by the company to the claim petition is devoid of bona fides. As has b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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