S.B.Sinha, A.C.J. - (1.) The instant appeal is directed against an order of the learned single judge dated November 3, 1998, in Company Petition No. 313 of 1998, whereby a company petition was admitted for the sum of Rs. 3,68,829.56 and the company was directed to pay interest of 16 per cent, per annum till the filing of the application and thereafter 10 per cent, per annum till the entire dues are paid, in default it was directed that the petitioner/creditor shall be at liberty to publish an advertisement and the matter was made returnable 4 weeks after such publication.
(2.) The company is the appellant before us which has deposited the principal sum of Rs. 3,68,830 in cash with the Registrar, original side of this court on November 23, 1998, pursuant to the conditional order of stay granted by this court on November 17, 1998, in the instant appeal.
(3.) According to the appellant company the respondent creditor supplied to the company 1248 sheets being the goods contracted to be supplied by it but allegedly long after the stipulated time and it is alleged that by reason of the delay the company could not complete the works contract entrusted to it and suffered loss and damages in a sum of Rs. 12,46,849.65. After giving credit to the said sum of Rs. 3,68,829.56 due to the respondent a sum of Rs. 9,12,608.50 is still said to be due and payable by the respondent creditor to the company. For the realisation of the said sum, a Money Suit No. 211 of 1998 has been filed by the appellant-company and is pending adjudication.;