2013 (11) TMI 441

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....version of coking coal to beehive hard coke. According to the petitioner, there was a sum in excess of Rs.1.18 crore due as at June 15, 2009, but the parties entered into an agreement on June 16, 2009 by which the company agreed to pay a sum of Rs.98 lakh in full and final settlement of the petitioner's claim within July 15, 2009. The petitioner says that since the entirety of the payment was not forthcoming and only an amount of Rs.16 lakh had been paid by September, 2009, the petitioner issued a demand on January 16, 2010 seeking the balance payment of Rs.82 lakh. The petitioner has also relied on another reminder of June 9, 2010. According to the petitioner, a payment of Rs.20 lakh was made by the company to the petitioner between Jun....

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....ourt's verification of the signature thereon at the time of hearing. The company has sought time to produce the document but such indulgence is not warranted. If the parties had, indeed, agreed that the final payment of Rs.15 lakh made in September 30, 2010, by the company to the petitioner reflected the conclusion of the transaction between the parties, the company ought to have challenged the petitioner upon receiving the letter of October 8, 2011. That the company received the letter of October 8, 2011 is beyond question since a categorical assertion to such effect is made in the petition and such minor matter is glossed over in the relevant paragraph of the company's affidavit. In the circumstances, particularly, since the rubber ....

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.... furnishes security in cash with the Registrar, Original Side, of the principal sum of Rs.62 lakh together with interest at the rate of 15 per cent per annum on the principal sum reckoned from March 28, 2012, which is the date of the statutory notice, and costs of 5000 GM in addition. In the event such security is furnished with the Registrar, Original Side, within a fortnight from date, the petition will remain permanently stayed. The Registrar will invest the money by way of a fixed deposit in any nationalised bank having a branch within the vicinity of this Court. In default of the entire amount of security being furnished, the petitioner will be at liberty to advertise the petition once in "The Statesman" and once in "Bartaman" newsp....