I.P.MUKERJI, J. - (1.) This is a winding up application by Milestone Brandcom Pvt. Ltd., the petitioning creditor, against Binani Industries Ltd., the company. The petitioning creditor is based in Mumbai.
(2.) The petitioning creditor says that they were approached by a division of the respondent company, Media Magic to carry out the company's publicity programme across India. It started from 2009 and continued till the financial year 2015-2016. Between 13th November, 2015 and 28th July, 2016 nine invoices were raised by them on the respondent company. For each of the invoices a credit note was issued which meant that the petitioning creditor gave the company a discount of the value of the credit note. In seven out of the nine invoices mentioned in paragraph-15 (a to g) of the petition, the company deducted tax at source. The petitioning creditor claims that their performance was so impressive that the company by an e-mail dated 27th November, 2015 applauded them with the remark "good show".
(3.) I was also shown an e-mail dated 15th February, 2016 from the company to the petitioner saying that the outstanding payable by their bills was Rs. 4.79 crore to which the petitioning creditor replied on the same day that their dues would be around Rs. 7 crore (see page 36 affidavit-in-reply).;