2010 (1) TMI 563

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....iness of manufacturing, trading/marketing of ISI marked Gas Stoves and other appliances. During the course of the business with the respondent company and its main/sister concerned namely Gagan Gases Ltd. running accounts were maintained by the petitioner in its books of accounts in the name of respondent company and also in the name of Gagan Gases Ltd. It is averred that number of cheques issued by the respondent company in favour of the petitioner towards dues of its amount were dishonoured. In the circumstances, a court case was filed by the petitioner against the respondent company to the petitioner in full and final settlement of all the claims of the petitioner. It was also stipulated through the said settlement deed that in case of n....

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....ioner that as per the settlement deed amount of Rs. 7,07,235 is due from the respondent along with notice fee of Rs. 11,000 interest @ 6% from 12.6.2003 to 12.3.2005 amolunting to Rs. 99,013 less amount paid by the respondent after notice Rs. 20,000. According, total balance due as on 12:3.2005 was claiming to the tune of Rs. 7,97,248. The case of the petitioner is that respondent company is unable to pay and/or is neglecting to pay its debts as such it is commercially insolvent, in the circumstances, it would be just and equitable that the respondent company should be wound up. 4. The respondent on being noticed filed reply and have denied the averments made in the petition. It has been stated that dues claimed by the petitioner company....

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.... made by them in it, I find that though averments have been made by the petitioner that number of cheques have been issued by the respondent company in favour of the petitioner towards payment of its dues and they were dishonoured and, therefore, court cases were filed by the petitioner against the respondent company under section 138 of the Negotiable Instruments Act and later they were withdrawn but the petitioner did not submit and documentary evidence in support of these averments which could have easily been obtained and filed before this court. Even after a specific denial has been made by the respondent in that regard the petitioner has not filed any authenticated document, satisfactory evidence about the alleged dues. Merely on the ....