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TMI Blog2018 (10) TMI 1487X X X X Extracts X X X X X X X X Extracts X X X X ..... fide dispute raised by the respondent. Accordingly, I admit the present petition. The Official Liquidator attached to this Court is appointed as the Provisional Liquidator. He is directed to take over all the assets, books of accounts and records of the respondent-company forthwith. The citations be published in the Delhi editions of the newspapers ‘Statesman’ (English) and ‘Veer Arjun’ (Hindi), as well as in the Delhi Gazette, at least 14 days prior to the next date of hearing. - CO.PET. 359/2013 - - - Dated:- 19-9-2018 - MR. JAYANT NATH J. Petitioner Through: Mr. Sanjiv Bahl, Adv. Respondent Through: Mr. Siddharth Yadav, Adv. JAYANT NATH, J. (ORAL) 1. This petition is filed under section 433/434 and 439 of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he parties. Learned counsel for the petitioner has vehemently relied upon the communications received from the respondent regarding the Singur and Jamshedpur Accounts whereby the said respondent has acknowledged the debt as noted above. Learned counsel further submits that as an afterthought the respondents have generated some communications where they claim that there were some defects in the quality of the work done by the petitioners. However, he submits that a perusal of the communications would show that they all pertain to the Jamshedpur Project and there is no grievance stated in any of these communications regarding the Singur Project. He submits that as far as Singur Project is concerned a sum of ₹ 25,30,656/- undoubtedly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ingur/LOI/08-09 which is an order for Singur project, came to ₹ 4,27,39,497/- against which, the respondent paid a sum of ₹ 4,02,08,841/- on account, thus, leaving a balance of ₹ 25,30,656/-. 6. In reply to para 12 the respondent stated as follows:- 11-13 Contents of para nos.11 to 13 of the Petition are matter of record, however, it is submitted that the submissions mentioned in the Preliminary Objections / Submissions and the contents of the emails exchanged between the Parties may kindly be referred to, which are not being repeated herein for the sake of brevity. 7. Hence, the contents of paragraph 12 have not categorically been denied by the respondent. Reference is made to the preliminary objections. As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 22.06.2010, 23.6.2010, 28.12.2010, 20.6.2011 and 16.07.2012. The petitioner on 22.06.2010 wrote as follows: 22.06.2010 Dear Mr.Shahu, This has reference to your order for Pre-Engineered Building at Jamshedpur. The Building is completed handed over to your and you are using the building since last one year. Therefore payment upto completion is due as per terms. In reply, the respondent on 23.06.2010 wrote as follows:- Dear Mr Tiwari Please find enclosed herewith the status of your pending job and payments as per PO terms and condition. Inspite of several requests made by us for completing the job, your response was very poor and intention was only to get your pending amount. Because o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same rain water leakage from roof/down take line and from water gutter ware observed. Therefore you are requested to look into the matter and repair the same at the earliest. In view of the above we are unable to release your final payment till the completion of the work in all respects. On 16.07.2012 the respondent again wrote as follows:- Dear Mr Tiwary, Kindly recall your visit to Jamshedpur about 6/7 months back, all the shortcomings were shown to you with respect to quality of job, you agreed to revert with your action plan for completion of same, we are yet to hear from you. Kindly respond so that case can be settled and closed. 11. A perusal of the above emails shows that there is no reference to any d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nuine if it is bona fide and not spurious, speculative, illusory or misconceived. The Company Court, at that stage, is not expected to hold a full trial of the matter. It must decide whether the grounds appear to be substantial. The grounds of dispute, of course, must not consist of some ingenious mask invented to deprive a creditor of a just and honest entitlement and must not be a mere wrangle. It is settled law that if the creditor's debt is bona fide disputed on substantial grounds, the court should dismiss the petition and leave the creditor first to establish his claim in an action, lest there is danger of abuse of winding-up procedure. The Company Court always retains the discretion, but a party to a dispute should not be allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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