AZEET INTERNATIONAL PVT. LTD. Vs. HIMACHAL PRADESH HORTICULTURAL
LAWS(HPH)-1997-12-7
HIGH COURT OF HIMACHAL PRADESH
Decided on December 10,1997

Azeet International Pvt. Ltd. Appellant
VERSUS
Himachal Pradesh Horticultural Respondents





Cited Judgements :-

EMPIRE INDUSTRIES LTD VS. WIGAN and LEIGH COLLEGE INDIA LTD [LAWS(DLH)-2005-2-137] [REFERRED TO]
VARINDER SAHNI VS. MGRM NET LTD. [LAWS(DLH)-2009-4-301] [REFERRED TO]
RANBAXY LABORATORIES LIMITED VS. JERATH ELECTRONICS AND ALLIED INDUSTRIES [LAWS(HPH)-2000-1-12] [REFERRED]
IAE INTERNATIONAL AERO ENGINES AG VS. UNITED BREWERIES (HOLDINGS) LIMITED [LAWS(KAR)-2017-2-27] [REFERRED TO]
ESSAR STEEL INDIA LTD (ESIL) VS. JAIPRAKASH POWER VENTURES LTD [LAWS(HPH)-2017-7-147] [REFERRED TO]


JUDGEMENT

R.L.KHURANA, J. - (1.)THE present petition has been filed by Azeet International (Pvt.) Ltd. (hereinafter referred to as "the petitioner company"), under Sections 433 and 439 of the Companies Act, 1956 (for short, "the Act"), for the winding up of the respondent company, Himachal Pradesh Horticultural Produce Marketing and Processing Corporation Ltd.
(2.)THE averments made in the petition, briefly stated, are these. The petitioner company is carrying on the business of manufacture and sale of corrugated fibre board and boxes for the packing of horticultural produce. On the basis of supply orders placed from time to time during the year 1989 90, the petitioner company supplied 4,15,066 cartons of corrugated fibre board valued at Rs, 69,50,350.50 to the respondent company. The supply so made included the supply of 1806 cartons as samples, valued at Rs. 30,250.50, the agreed value per carton being Rs. 16.75. A sum of Rs. 62,30,312'.75 was paid by the respondent company as part payment towards the cost of cartons supplied. In addition another sum of Rs. 1,97,000 was paid by the respondent company towards freight charges.
According to the petitioner company, after adjusting the amounts received from the respondent company, a sum of Rs. 11,27,164.50 is still due to it from the respondent company as under :

(Rs.) (i) Balance cost of supplies including cost of samples. 5,25,258.50 (ii) Balance amount of earnest money deposited 25,000.00 (iii) Interest on the earnest money up to March 31, 1991 37,440.00 (iv) Interest on delayed payments and amounts not paid up to March 31, 1991 4,85,466.00 (v) Warehousing charges 54,000.00 Total 11,27,164.50

(3.)A notice, under Section 434 of the Act, was served upon the respondent company calling upon it to pay the abovesaid amount within three weeks of the receipt of the notice. Despite such notice, the respondent company failed to pay the amount due and to discharge its liability.


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