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COMP/81/2010 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 81 of 2010
=========================================
SAPANA
CHEMICALS PROPRIETARY CONCERN BY AND THR - Petitioner(s)
Versus
SIDDHARTH
CHLOROCHEM PVT LTD - Respondent(s)
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Appearance
:
MR
HM BHAGAT for Petitioner(s) : 1,
MS ANUJA S NANAVATI for
Respondent(s) : 1,
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CORAM
:
HONOURABLE
MR.JUSTICE AKIL KURESHI
Date
: 23/12/2010
ORAL
ORDER
1. The
petitioner seeks winding up of the respondent Company on the ground
that the Company is unable to pay its debts.
2. It
is the case of the petitioner that the petitioner had supplied
certain goods to the respondent Company for which its bills had
remained outstanding. The petitioner has been raising irregular
bills. When the respondent Company finally made no payment, the
petitioner issued statutory notice for winding up on 21.11.2009
calling upon the respondent to pay sum of Rs.9,0,2,529/- along with
interest at the rate of 14% per annum within 21 days, failing which
the petitioner would institute legal proceedings.
3. It
is undisputed that above notice was not replied by the respondent.
However, in the affidavit-in-reply the petitioner has made detailed
averments contending that substantial payments were made over the
period of time. The principal sum was paid up long back. Even the
interest at the rate of 14% would leave no residue higher than Rs.
1,59,877.77. In para 12 of the affidavit, respondent has stated as
under:-
” 12. I
say that as per the oral agreement between the Petitioner and the
Respondent, the Petitioner is not entitled to now claim interest at
the rate of 14% per annum on the principal amount. However, assuming
without admitting that the Petitioner is entitled to claim interest
at the rate of 14% per annum, the total amount of interest payable on
the outstanding amount after adjusting the interest on the amount
over paid by the Respondent, comes to Rs.1,59,877.77. A statement
giving summary of the interest calculation for the period from
01.04.2002 to 31.03.2009 along with year-wise interest calculation
statement are annexed hereto and marked as Annexure-R3 Colly.”
4. Counsel for
the petitioner vehemently contended that dues are admitted way back
in the year 2002. Respondent Company agreed that the amount of
Rs.10.80 lakhs is outstanding. He, however, admitted that thereafter
certain payments were made despite which according to the
petitioner’s accounts a sum of over Rs.9,00,000/- was outstanding
when the notice was issued.
5. There is
serious dispute about accounts between the parties. The dues of the
petitioner are not admitted by the respondent. As per the respondent
total outstanding debt comes to Rs.1,59,877.77/-. The respondent has
produced certain documents in support of such a contention. Such
factual aspects of disputed payments and settlement of accounts
cannot be gone into winding up of the company.
6. However,
considering that the respondent also admits to a
sum of Rs. 1,59,577.77/- payable as on August, 2010, the respondent
shall pay a sum of Rs.1,60,000/- with interest at the rate of 14%
from 1st
August, 2010 till actual payment of the petitioner, which may be done
latest by 15.2.2011.
7. With the above
directions, Company Application is disposed of. It is however,
clarified that I have not examined rival contention on merits and it
would be open for the petitioner to take recourse to remedy available
under the law. If the petitioner is of the opinion that even after
payment of the said sum of Rs.1,60,000/- with interest, the
petitioner has to recover further sum from the respondent,such claim,
if raised, shall be examined on its own merits subject to objections
by the respondent.
(Akil Kureshi,
J. )
sudhir
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