STATE TRADING CORPORATION OF INDIA LTD Vs. INDO BONITO MULTINATIONAL LTD & ANR
LAWS(BOM)-2017-11-342
HIGH COURT OF BOMBAY
Decided on November 13,2017

STATE TRADING CORPORATION OF INDIA LTD Appellant
VERSUS
Indo Bonito Multinational Ltd And Anr Respondents

JUDGEMENT

R.M. Savant, J. - (1.) Admit. Heard forthwith.
(2.) The above Appeal takes exception to the order dated 22/02/2017 passed by a learned Single Judge of this Court (Coram R. D. Dhanuka, J.). By the said order, the Company Application No.448 of 2016 filed by the Respondent no.2 herein who is the ExDirector of the Respondent no.1, came to be allowed and resultantly, the order dated 14/11/2014 passed in Company Petition No.276 of 2011 came to be recalled.
(3.) It is not necessary to burden this order with unnecessary details. Suffice it would be to state that an amount of Rs.112,99,23,300/ was due and payable by the Respondent Company i.e. the Respondent herein to the Petitioner i.e. the Appellant herein towards the payment of the outstanding dues of foreign buyers as stated in the Agreement dated 22/06/2006 and Addendum MOU dated 07/07/2009 executed by and between the Petitioner and the and the Respondent Company under the Post Shipment facility availed of by the Respondent Company through the Petitioner's bankers EXIM Bank in the years 2006070809 for USD 41094627.87 which is equivalent to Indian Rs.184,92,58,254/, totally aggregating to Rs.215,11,40,300/. The Petitioner accordingly issued a statutory notice dated 24/12/2010 on the Respondent Company calling upon the Respondent Company to pay the said amount of Rs.215,11,40,300/ to the Petitioner within 21 days from the receipt of the said statutory notice. In view of the fact that the said statutory notice did not evince any response from the Respondent Company that the Petitioner filed the instant Company Petition being Company Petition No.276 of 2011 seeking windingup of the Respondent Company. Copy of the said Company Petition was sought to be served at the address of the Respondent Company appearing in the record of the Registrar of Companies. However, the packet containing the copy of the petition was returned with the remark 'shifted'. It seems that thereafter inquiries were made by the Petitioner with the Registrar of Companies in August 2011 upon which the Petitioner was furnished with the registered address of the Respondent Company at Goregaon, Mumbai. The packet addressed at the said address also returned with the postal remark as 'unclaimed'. On further inquiries being made in July 2012, the Registrar of Companies furnished to the Petitioner 'Company Master Details' of the Respondent Company and in the said details, the address mentioned of the Respondent Company was an address in Koparkhairane, Navi Mumbai. The said address would be referred to in detail in the subsequent part of this order. However, the packet which was sent at the said address of Koparkhairane, Navi Mumbai also came back with the remark that the company is 'not available';


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