9911796707
TMI Blog1996 (12) TMI 339X X X X Extracts X X X X X X X X Extracts X X X X ..... es on business in the name and style of Shree Catalyst at Ratlam. The appellant has to recover a sum of Rs. 33,26,657.71 from the respondent on account of balance price, of goods supplied to the company. The company did not make the payment despite the demand and statutory notice, on August 9, 1988. The company was thus taken to be unable to pay its debt to the appellant. The appellant, therefore, filed the application before the learned company judge under section 436 read with section 439 of the Companies Act, which was registered as Company Petition No. 6 of 1989, for winding up of the company. The respondent contested the question and stated that there was a bona fide dispute and as such the company was not liable to pay the amount. Aft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I.A. No. 5013 of 1996 to place on record certain documents to show that the company is not unable to pay its debt. We have heard S.C. Bagadiya, learned senior counsel with Shri Pankaj Bagadiya, for the appellant in Company Appeal No. 3 of 1990 and S.S. Samvatsar, learned counsel for the appellant in Company Appeal No. 7 of 1990. We have also heard P.B.S. Nayer, learned counsel for the respondents in both these appeals. None appeared for the intervenors in Company Appeal No. 3 of 1990. First of all Shri Nayer, on the basis of a letter addressed to the chairman of the company, pointed out that the matter is likely to be withdrawn by the appellants on the ground of composition of the dispute. The counsel for the appellants, however, submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... take cautious cognizance of events and developments subsequent to the institution of the proceeding provided the rules of fairness to both sides are scrupulously obeyed" . In view of the aforesaid applications, the counsel for both the sides consented that the common order to the extent of Company Petitions Nos. 6 of 1989 and 7 of 1989 be ordered to be demolished and the matter be remitted back to the company court for fresh hearing on the question of admission of these company petitions in the light of the documents sought to be introduced in these company appeals. In view of the aforesaid submissions, it becomes unnecessary to examine the merits of the matter. On consent, we dispose of these company appeals in terms indicated below ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
