BABOO LALL JAIN - (1.)This application has been made by Ashoka Agencies for the compulsory winding up of M/s. Business Forms Ltd.
(2.)The case of the petitioner is, inter alia, to the effect that pursuant to and in terms of several orders placed by the company on the petitioner, the petitioner from time to time sold and delivered 'paper' to the company on agreed rates as per specification given by the company. Petitioner also raised bills in respect of such supplies on the company. The company accepted such bills without raising any objection with regard thereto, and also made diverse payments in respect of the said 4 bills. After giving due credit for such payment made by the company to the petitioner in respect of the bills raised by the petitioner on the company in order of time a total sum of Rs. 24,32,416 Olp. remained due and payable by the company to the petitioner as on March 31, 1992. The further case of the petitioner is that the company duly accepted the aforesaid and by writing duly acknowledged and admitted its liability to the petitioner in respect of the said sum as will be evident from a communication dated September 21, 1992 addressed by the company to the petitioner. It has also been stated that by the said communication the said company also promised to make payment of the said sum of Rs. 24,32,416.Olp. Thereafter, subsequent to March 31, 1992, pursuant to several orders placed by the company on the petitioner the Company from time to time and up to September, 1993 sold and delivered to the company diverse quantities of papers at agreed rates and as per specification given by the company to the petitioner, The company accepted the said supplies and without raising any objection with regard thereto. Petitioner also raised bills in respect of the said further supplies. Particulars of the said bills are set out in the schedule annexed to the petition, and marked 'B'. The company accepted the said bills without raising any objection with regard thereto.
(3.)As per annexure 'B' the total bills of the petitioner between 15th March, 1992 to 14th September, 1993, came to Rs. 37,18,977.00 p. It appears from the schedule of payments made during the period from 21st April, 1992 to 29th June, 1993 and thereafter, and taking into account a credit note of about Rs. 98,000.00 p. for the goods returned, that a total sum of Rs. 44,12,745.95 p. was paid by the company and/or was credited to the company.
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