9911796707
TMI Blog2011 (2) TMI 1273X X X X Extracts X X X X X X X X Extracts X X X X ..... winding up of M/s AVR Texfabs (P.) Ltd. ('respondent-Co.'). 2. M/s. Rameshwarlal Govindram (petitioner) is a proprietary-Firm duly engaged in the trade of iron goods and its Proprietor (Kishanlal Agarwal) is residing at Madanganj-Kishangarh (Ajmer). Petitioner-Firm supplied iron goods from time to time to respondent-Co., and as per statements of accounts against good supplied, a sum of Rs. 8,35,208 (Rupees eight lakhs thirty five thousand two hundred eight only) was outstanding and recoverable as on 30-9-2008 against M/s. AVR Texfabs (P.) Ltd. (respondent-Co.) which is a private limited Co., incorporated in August, 2005, having capital of Rs. two crores twenty five lakhs divided into 22,50,000 equity shares and amount of paid up equity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was of Rs. 7,18,963 as Credit and against which, two entries have been shown as debit each of Rs. one lakh as cash payment being made on 28-4-2008 15-5-2008; besides entry of Rs. two lakhs as payment through cheque dated 24-6-2008 drawn on Bank of Baroda; and for balance, claim is shown to have been settled of Rs. 3,18,963. 4. It is curiously enough that no documentary evidence as to how claim of Rs. 3,18,963 was settled and no receipt in regard to alleged cash payment entry ( supra ) have been placed on record along with reply; despite the plea of defence taken by respondent-Co. being controverted disputed by petitioner-Firm that neither cash payment was made nor any settlement has ever been arrived at between the parties. Total am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made in cash or claim being settled, in absence of documentary evidence in the form of receipt of cash payment or in regard to the balance amount being settled in the presence of three persons and even from whose affidavit it does not disclose the date on which all the three named persons had ever met and what transpired in between the parties to the alleged settlement and which appears to be an after thought; rather this gives an indication for arriving at the conclusion that there is no dispute regarding amount of outstanding dues as is evident from ledger account. 8. There cannot be a dispute that a winding up petition is maintainable if the Company fails to pay its debt and the relief as prayed for in the winding up petition can be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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