- (1.) Heard Mr. M.M. Saiyed, learned advocate for the petitioner and Mr. Sudhir Nanavati, learned Senior Advocate assisted by Mrs. V.D. Nanavati, learned advocate for the respondent.
(2.) By this petition under Sections 433 and 434 of the Companies Act, 1956 (hereinafter referred to as "the Act"), the petitioner has prayed for winding up of the Company named Arcoy Bio Refinery Pvt. Ltd.
(3.) It is the case of the petitioner that the respondent-Company gave various purchase orders for undertaking different job works at the Company premises of the respondent situated at Panoli GIDC Industrial Estate, Taluka Ankleshwar, District Bharuch and the petitioner has carried out and completed all such purchase orders within time and to the satisfaction of the respondent-Company. It is the case of the petitioner that 8 such purchase orders have remained unpaid. It is further the case of the petitioner that no dispute has ever been raised by the respondent and in fact part payment has been made in an irregular manner and TDS has also been deducted. It is further the case of the petitioner that an amount is due and payable as per the account which is on record to the tune of Rs.43,33,750/. It is further contended that as no payment was made, a statutory notice was given by the petitioner on 25.5.2013 and the same was sent through RPAD. It is the case of the petitioner that neither the notice was complied with nor any payment was made as per the demand raised in the statutory notice and therefore, the present petition is filed.;