2010 (5) TMI 405

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r the Respondent. ORDER 1. The applicant company when ordered to be wound up on 7-4-1995 in COP 23/94 filed this application on 28-6-1996 to recover Rs. 1,73,175 with interest at the rate of 12 per cent p.a. from the date of application on Rs. 1,28,956 from the respondent M/s. Ravishankar Traders, on the premise that the respondent was a trade debtor. This application is opposed by filing st....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he Official Liquidator examined one witness as PW-1, marked five documents as Exs. P1 to P5, while for the respondent the Partner by name Ravishankar was examined as RW-1 and no documents were marked. 4. In the premise of the pleadings of the parties, the point for decision making is, whether the applicant proves that the respondent is due and payable Rs. 1,73,175 together with interest at the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ure "Rs. 1,37,800" is mentioned; Ex.P3 is said to be a copy of the cash book, Folio No. 56 wherein as against dated 21-8-1993 the name of the respondent is mentioned and figures Rs. 7,800, while in Ex. P4 a copy of the Ledger folio at page No. 66 states that as on 1-4-1993 the balance is Rs. 1,36,756 and on 21-8-1993 there is a credit by way of cash of Rs. 7,300 in the account of the respondent; E....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to the applicant Rs. 1,28,956.60. Although learned counsel for the Official Liquidator submits that the statement of affairs filed as required by section 454 of the Companies Act is sufficient to establish the liability of the respondent. I am afraid that contention cannot be countenanced Merely because the Ex-directors of a company-in-liquidation file a statement of affairs, indicating that the ....