9911796707
TMI Blog2003 (5) TMI 424X X X X Extracts X X X X X X X X Extracts X X X X ..... ince it is unable to pay its debt to the petitioner. 3. In Para No. 5 of the petition it is stated that the respondent company has purchased the soda ash from the petitioner from time to time and have been making the part payment. The respondent company after admitting its liability to pay the debts, had sent its duly signed balance sheet to the petitioner. This balance sheet is on record as Annexure-1, which is as under: K.V. Associates Pvt. Ltd., Chandigarh Statement of account for Matharu Chemicals Industries from 1-4-2001 to 14-12-2001 Date Description Debit Credit Balance 1-4-2001 To opening balance 356525.92 356525.92 DB 4-5-2001 By cash r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffective remedy is available of filing of the summary suit under Order 37 of the C.P.C., but there the court fees is to be paid. In the facts of this case filing of this winding up petition is nothing but an attempt on the part of the petitioner to recover this amount from the respondent-company at the threat of winding up thereof. This way the petitioner without paying the court fees will recover the money, which cannot be permitted. 5. Leaving apart that this winding up petition is not maintainable as the petitioner has failed to produce on the record any proof that the alleged legal notice sent under section 434 of the Act, 1956 has been received by the respondent company. Section 433 of the Act, 1956 provides the circumstances in wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stered post AD. The petitioner has not produced any evidence that the notice was sent to the respondent by registered post AD. Where the notice is sent by the registered post AD, the documentary evidence would have been available with the petitioner i.e., the postal receipt as well as the acknowledgement receipt. Both these documents have not been produced. Thus for non-production of these two documents, it can reasonably be inferred that this notice was not sent by registered post AD and secondly it was not served upon the respondent company. The petition is lacking in its basic requirement of the maintainability under clause ( e ) of section 433 of the Act, 1956. Sine qua non for the maintainability of the winding up petition on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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