- (1.) The company has not been called upon.
(2.) The Petitioner claims on account of money lent and advanced. The Petitioner says that, on or about 12 June, 1998, a sum of Rs. 5 lakhs was lent and advanced by the Petitioner to the company. The Petitioner relies on the money receipt executed by the company on such date which demonstrates that the loan was for a period of 120 days and was repayable with interest at the rate of 15 per cent per annum.
(3.) In the statutory notice of 27 January, 2009, the Petitioner claimed that a sum of Rs. 5 lakhs was indeed repaid by the company but that was adjusted against the interest to which the Petitioner was entitled. The notice asserted that the last of the payments had been made by the company on 19 June, 2006. There was no reply to the statutory notice.;