TaxTMI 
TaxTMI 
2018 (9) TMI 1391
X X X X Extracts X X X X
X X X X Extracts X X X X
....resented. Accordingly, the application is taken up for hearing in the absence of the company. The short facts urged by the petitioner in support of its claim for winding up of the company are that by an agreement dated October 6, 2009 entered into between the parties herein, the company engaged the petitioner for designing, erecting, supplying and commissioning of one number Air Cooled Condenser (hereinafter referred as the "ACC Unit") for 15 MW Captive Power Plant at Chandil in the State of Jharkhand. The said agreement was followed by the letter of intent dated October, 2009 issued by the company to the petitioner. The total contractual value of the said agreement dated October 6, 2009 was for Rs. 3,85,00,000/- and in addition thereto, t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ived by the company. By a letter dated May 12, 2014 the company through its Advocate replied to the said statutory notice of the petitioner alleging that the petitioner did not complete the commissioning of the said ACC Unit within the stipulated period of 15 months from the date of the said agreement and it had to deploy its own people to complete the job, which caused immense delay in commissioning of the said ACC unit. In the said letter the company referred to a legal notice dated February 17, 2011 served upon the petitioner calling upon it to complete the entire supply immediately so that the company should not face any problem due to the delay/laches on the part of the petitioner. In the said letter the company not only desired its li....