9911796707
TMI Blog1994 (4) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... ch was in liquidation and that the claim of set off preferred by the respondent was barred by time. Some of the facts relevant in the case for proper adjudication of the controversy are that petitioner No. 1, that is, Maruti Ltd., was ordered to be wound up and a provisional liquidator appointed on July 22, 1977. Upon final order of winding up dated March 6, 1978, the appellant herein acquired the undertaking of the wound up company by virtue of the Maruti Limited (Acquisition and Transfer of Undertakings) Act, 1980, along with all rights, title and interest. The account books of the company showed a balance of Rs. 34,071.22 recoverable from the respondent. The official liquidator sent a registered notice calling upon the respondent to pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected their application, vide judgment impugned in this appeal. Shri Ashok Gulati who was the accounts officer of the appellant-company produced and proved the ledger entries, exhibit PW-1/1A, to show that an amount of Rs. 19,694.60 was payable by the respondents and the amount reflecting the over payments made to the respondents. He further deposed that in case a party does not make the payment of the amount to the company within a reasonable time, such party was liable to pay interest at 12 per cent, per annum. The payment of the interest was claimed on the practice prevalent in the area. Shri Mohinder Singh, assistant manager of the company, deposed that the ledger entries, exhibit PW-1/1A, had been attested as true copy by him. He f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... maintained in the ordinary course of business transaction. No ground has been assigned by the learned company judge to hold that the ledger entries did not appear to be correct. The learned company judge relied upon the oral testimony of respondent No. 1 and rejected the cogent and reliable evidence led by the appellant-company to prove that materials of the value of Rs. 17,731.65 was returned to the respondent. The learned company judge has, therefore, drawn his conclusions merely on hypothesis and conjectures without having regard to the material produced in the case. The appellant-company had, therefore, unequivocally proved that materials worth Rs. 17,731.65 relating to Bill No. 89, dated April 4, 1977, earlier supplied to it had been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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