2015 (6) TMI 369

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.... the respondent company for use of tea estates. It has been submitted that between 1.4.2009 to 31.8.2011 various purchase orders were placed by the respondent company for supply of the goods as per the terms of the agreement reflected in the purchase orders. Accordingly goods were supplied by the petitioner company to the respondent company to an extent of Rs. 5,84,131/-, were duly received and co....

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....ply on 29.10.2011 setting up a false defence stating that the goods supplied were not of requisite quality. It is submitted that the respondent company having ordered the goods and received them and utilized them was now seeking to wriggle out from its obligations to pay the price thereof which constitutes a debt payable to the petitioner company. It has been submitted that the petitioner company ....

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....s not been filed. Heard the counsel for the petitioner and perused the petition as also the supporting documents. It is no doubt true that a winding up petition cannot be equated to a suit for recovery of money. It is however, equally true that neglect in payment of debt due as statutorily defined without a bonafide dispute or substantial defence entails the consequence of winding up of a compan....

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....mercial relationship between the petitioner company and the respondent company is established from the documents filed with the company petition more particularly the respondent company's reply dated 29.10.2011 to the notice under section 434 of the Act of 1956 at the instance of the petitioner company evidencing that the respondent company received the goods in issue and made part payment the....