2010 (6) TMI 320

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., J.   K.S. Mahadevan and V. Jayaram for the Official Liquidator. ORDER 1. The Company-in-liquidation represented by the Official Liquidator has presented this application under section 446(2)(b) of the Companies Act, 1956 arraigning as party - respondent the company which is due and payable Rs. 4,35,000 as on 7-11-2003 and being a Trade Debtor, seeks a decree against the responde....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Rs. 3,03,697 the respondents were due and payable Rs. 3,55,000. It is further stated that the respondent suspended production since February 2004 and the plant is closed and is finding it difficult to continue to pay the balance amount due and hence seeks time to pay the same in equal monthly instalment of Rs. 10,000. 3. The Official Liquidator examined one witness as PW-1 and marked 10 documen....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....idation for the period from 31-8-2000 to 31-8-2001 did vest on the respondent. In the absence of relevant material constituting substantial legal evidence of the fact of having made payment to the Company-in-liquidation, it cannot be said that the defence advanced by the respondent of having paid Rs. 2,73,697 out of Rs. 6,58,697 is unacceptable. It is no doubt true that Rs. 10,000 each by way of c....