- (1.) This appeal is directed against the judgment dated June 24, 1998, passed by the learned single judge of this court in a winding up application wherein after admitting the winding up petition, the learned single judge directed the appellant-company to pay to the respondent petitioning creditor Rs. 2, 15,999 by way of the principal amount, interest assessed thereon and the costs of the winding up application.
(2.) The aforesaid direction for payment of the aforesaid amount was passed by the learned single judge on the basis of a reasoning contained in the judgment under appeal to the effect that the appellant in the affidavit-in-opposition filed to the winding up application before the learned single judge had not disputed the execution of the two promissory notes for Rs. 1,00,000 each which formed the basis of the winding up application filed by the respondent petitioning creditor in the trial court.
(3.) To properly appreciate the aforesaid context, we will reproduce herein-below the portion of the judgment under appeal which contains the aforesaid reasoning. It reads thus ; "It appears that the claim of the petitioning creditor is founded on two promissory notes aggregating to Rs. 2 lakhs, copies of the said two promissory notes have been annexed to the winding up petition. It is the case of the petitioning creditor that both the said promissory notes have been signed by the managing director of the company. This is not disputed by the company in its affidavit-in-opposition. In that view of the matter, I pass the following order.";