2017 (12) TMI 1904

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....433(e), 434 and 439 of the Companies Act, 1956. 2 According to petitioner, they are, inter alia, in the business of manufacturing of chemicals like levofloxacin Q Acid and Ofloxacin Q Acid. According to petitioner, the company vide purchase order dated 19.6.2012, placed orders for 7000 KGS for levofloxacin Q Acid 25 KG/Drum and 7000 KGS for Ofloxacin Q Acid 98% min 25 KG/Drum at USD 32.00 per KG each. Petitioner placed confirmation dated 19.6.2012 upon the company. Admittedly, the supply was made by petitioner. Petitioner has received payment for Ofloxacin Q Acid but has not received payment for Levofloxacin Q Acid amounting to USD 2,24,000/­.   3 It is alleged in the petition that the company was introduced to petitioner by ....

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.... one puts loosely, a front for Actgen or Vigor Pharmaceuticals which are both companies of Mr. Hiran.   (iv) According to company said Mr. Vijay Hiran of the company has been a regular customer of petitioner for purchase of various pharmaceutical products. Mr. Hiran was also known to the company's directors since they are also in pharmaceutical business.   It is stated that sometime in June­2012 the said Mr. Vijay Hiran approached respondent­company and informed them that since his credit limit with petitioner was exhausted, he would like to place orders with petitioner through respondent for a predetermined management fee. The company agreed to help Mr. Hiran and Actgen Pharma Pvt. Ltd. in doing 3 transact....

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....l keep you informed. For the balance payment will check and revert how to do the same. Thanking you in advance and Look forward to your reply. With Best Regards Vijay Hiran Actgen Pharma Private Limited Mumbai Fax No. +91­22­40953099 Email : [email protected] ­­­­ "From : Vaishali [mailto : [email protected]] Sent : Tuesday, June 25, 2013 1:24 PM To : `[email protected]' Subject : high exchange rate not able to pay Dear Sir, We have done payment of M/s.Surbhit Impex Pvt. Ltd. of Rs. 75,00,000/­ Few Days Back. Due to high Exchange rate of dollar, we are not able to pay you at this stage. We will pay....

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....s. I am unable to come to that conclusion. The reason being, it is an admitted position that Mr. Vijay Hiran has been involved in the transactions between petitioner and the company. The purchase order placed by the company expressly provides under shipping instructions, `Manufactured for Vigor Pharma Private Limited'. Admittedly Mr. Vijay Hiran is a director of Vigor Pharma Private Limited. Even in the emails annexed to the petition which are at Exh.E & Exh.F as quoted above, it prima facie appears that Actgen Pharma is taking up the responsibility of making payment. I must hasten to add that it is a prima facie view and not a conclusive view and this should not come in the way of petitioner if it decides to file any proceedings agains....