2015 (6) TMI 1248

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....ency and final disposal of this petition. 2. Heard learned advocate Mr. Pavan S. Godiawala for the petitioner and learned advocate Mr. Dhruvik K. Patel for the respondent company. 3. Learned advocate Mr. Godiawala for the petitioner referred to the averments made in the affidavit and submitted that the petitioner, which is a proprietary concern, is engaged in the business of manufacturing and dealing in products, namely, Core Veneer, Face Veneer, Plywood and allied products. The respondent-company approached the petitioner for its requirement of the products. At that time the respondent company through its director assured and promised to make the payment upon supply of the goods. In view of the said promise given by the Directors and the....

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....ent is nothing but an after thought. The said dispute can be said to be sham and bogus. Therefore, this Court may not consider the same and pass an order for winding up of respondent-company . 7. Learned advocate Mr. Godiawala further pointed out that during the pendency of this petition, the respondent-company issued a cheque for the purpose of settling the account. However, learned advocate has pointed out from the further affidavit, and submitted that the cheques issued by the respondent-company were dishonoured/returned with an endorsement 'insufficient funds'. 8. Learned advocate Mr. Dhruvik K. Patel appearing for the respondent referred to the Affidavit-in-Reply filed by the respondent-company and submitted that the responde....

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....ype of dispute is raised before this Court which cannot be assumed as bonafide and reasonable dispute. 13. From the facts and circumstances of the case, it can be said that the respondent company is not in a position to pay its debts and therefore a false and frivolous dispute is raised before this Court. 14. I have considered the arguments canvassed on behalf of the learned advocates for the parties and have also gone through the documents produced on record with the affidavit. From the facts and circumstances of the present case, it emerges that the invoices and ledger accounts were also produced for the materials supplied from time to time to the respondent company by the petitioner. The petitioner issued the statutory notice on 5.8.20....