1999 (10) TMI 644

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....e of the application filed by the respondent seeking for modification of the order passed by this Court on 18-1-1999 in C.A. No. 1887 of 1998. 2. The petitioner filed a petition in this Court under sections 433(e), 434 and 439 of the Companies Act, 1956 ('the Act') against the respondent praying for winding up of the respondent-company on the allegation that the respondent is unable to pay its ....

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....nsel appearing for the respondent that the respondent was not able to pay the amount in terms of the order of the Court as the petitioner did not remove the discrepancies pointed out by the Delhi Jal Board. It was also submitted that so long the aforesaid discrepancies as pointed out by the Delhi Jal Board are not rectified, no payment is being made by the Delhi Jal Board and thus payment to the t....

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....and that even thereafter the cheque issued by the respondent to the tune of Rs. 58 lakhs was also dishonoured when presented to the Bank. He also submitted that it is an admitted position that the respondent received from the Delhi Jal Board Rs. 50 lakhs towards supplies made by the petitioner to the Delhi Jal Board through respondent which is corroborated by the various documents placed on record....

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....tation for which the petitioner supplied equipments worth approximately Rs. 60 lakhs. I have also noticed that the Delhi Jal Board has pointed out certain defects in the said equipments and there is an obligation of the petitioner to send its representative along with the respondent to inspect the equipments in the presence of the officials of the Delhi Jal Board without prejudice to the rights an....