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TMI Blog2008 (3) TMI 487X X X X Extracts X X X X X X X X Extracts X X X X ..... ered by the opposite party-company under the common law forum. It is also open to the petitioner-company to approach the common law forum, if it has any dues against the opposite party-company. No merit in this company petition, which is, accordingly, dismissed - COPET NO. 28 OF 2003 - - - Dated:- 20-3-2008 - M.M. DAS, J. A.Mohapatra, R.C. Sahoo, J.M. Rout, A.N. Garnaik and B.P. Behera for the Petitioner. Gopabandhu Dash, S. Mohanty, S.K. Mohapatra and S. Nayak for the Respondent. ORDER 1. Copet No. 28 of 2003 has been filed under sections 433, 434 and 439 of the Companies Act, 1956 against the opposite party, the Orissa Pump and Engineering Company Ltd. with a prayer for winding up of the said company along w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per orders of the Government basing on the recommendation of the Cabinet sub-Committee. The offers received could not be considered as the same were not accompanied with required earnest money deposits. Thereafter, further advertisement was issued through the Orissa State Financial Corporation, according to the direction of the State Government. Two writ petitions were filed before the Court challenging such process of advertisements, by the workers of the opposite party-company, being O.J.C. Nos. 2978 of 1997 and 12053 of 1997. This Court, while issuing notice in the first writ petition directed the petitioner-company not to accept any bid without leave of this Court. Subsequently, on an application being filed by the petitioner-company, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -company. The unit was admittedly handed over to the private management in terms of the agreement and the said private management of the opposite party-company submitted the accounts to the petitioner-company relating to the assets, liability position as on date of handing over, according to the terms of the agreement, which were verified by the Chartered Accountant of the petitioner-company. The Board of Directors of the petitioner-company in order to expedite the process for finalisation of the matter constituted a Committee of Directors, which convened the meeting on 5-1-2007 and in terms of the proceeding of the said meeting recommendations were placed before the Board of Directors of the petitioner-company, which were confirmed. The sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing full payment of the value of share capital. With regard to the other dues as claimed by the petitioner-company, the opposite party-company in its affidavit has denied the same and disputed the said claim by making a counter-claim that the petitioner-company is required to pay Rs. 26,29,332 to the opposite party-company. During pendency of this application, it appears that different Misc. Cases were filed out of which Misc. Case No. 46 of 2005 has not been disposed of. In the Misc. Cases, the opposite party-company claimed the cost of the dual desk and bench supplied by it for which payments were received by the petitioner-company. Various orders have been passed on the previous Misc. Cases directing the petitioner-company to settle the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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