2013 (2) TMI 944

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....tioning creditor is on account of charges for preparing several episodes of a television serial for the company. The statutory notice of June 15, 2012 claimed that the petitioner was entitled to a sum of Rs. 1,45,000/- together with applicable service tax to be paid after 60 days of telecast of each episode. The soap ran for 317 episodes and the petitioner has received payment for 226 episodes and....

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...., the petitioner had fraudulently overvalued the films and the company is entitled to claim a sum of "Rs. 14.45 crore being excess amount realised by you fraudulently overvaluing the films over and above Rs. 6,84,00,000/-." Upon asserting the counterclaim, the company's reply to the statutory notice proceeded to say as follows: "In such circumstances, our client is entitled to adjust ....

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....id agreement of April 7, 2010, such claim is in damages for an unliquidated sum and, though the company can set up the same by way of a counterclaim, it will not entirely defeat the petitioning creditor's present claim. 5. There is no defence which is raised by the company against the petitioner's claim on account of remuneration or charges for the unpaid part of episode Nos. 217 to 317....

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.... result of the other petition being CP No.361 of 2012 and, if such other petition were to be permanently stayed, the deposit will abide by the result of any suit that the company may institute against the petitioner within four weeks of CP No.361 of 2012 being permanently stayed. In default of the deposit being put in, however, the present petition will stand admitted and the petitioning creditor ....