9911796707
TMI Blog2012 (4) TMI 835X X X X Extracts X X X X X X X X Extracts X X X X ..... J. 1. Present winding up petition has been filed under Section 433(e) read with Sections 434 and 439 of the Companies Act, 1956 stating that the respondent is unable to pay its debts allegedly amounting to Rs. 15,06,980/-. In the petition, the petitioner has relied upon a confirmation of accounts at page 41 whereby the aforesaid amount of Rs. 15,06,980/- was confirmed by the respondent as outstan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... note dated 4th December, 2006 raised by the respondent upon the petitioner-company. 3. Learned Counsel for the respondent states that entire amount due and payable by the respondent to the petitioner under the invoices has been paid. He further states that the petitioner firm is not a registered firm and by virtue of Section 69 of the Partnership Act, 1932 it is barred from filing the present pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the aforesaid document, normal commercial prudence would require that it would refer to the same in contemporaneous document and in particular in the statutory winding up notice. However, neither in the contemporaneous letter dated 22nd July, 2007 nor in the statutory winding up notice the petitioner has relied upon the alleged confirmation of accounts statement dated 1st April, 2007. Consequen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat conclusion. The Company Court is expected to ascertain that the company's refusal is supported by a reasonable cause or a bona fide dispute in which the dispute can only be adjudicated by a trial in a civil Court. 7. Keeping in view the aforesaid finding of fact as well as the mandate of law, the present petition and pending applications are dismissed with liberty to the petitioner to fil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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