M.M. Kumar, J. - (1.) THIS petition filed under Section 439 read with Section 433 of the Companies Act, 1956, prays for winding up of the respondent -Company. The claim made by the petitioner -firm is that it is entitled to recover a sum of Rs. 17,33,082 -34 paise, which included the amount of interest calculated as on 30.9.1999. The question which survives for consideration is as to what should be the rate of interest leviable on the principal amount.
(2.) THE skeleton facts leading to the payment of principal amount and the survival of the controversy regarding rate of interest may be set out briefly. The respondent -Company is engaged primarily in the manufacture/production of oil and its bye -products and it has a registered office at G -3, Lawrence Road, Industrial Area, Delhi. In the year 1998, its registered office was re -located at 617, Civil Lines, Moga.
(3.) THE petitioner -firm is a Commission Agent having its work place at Julana Mandi (Jind) and is stated to have supplied wheat to the respondent -Company. During the financial year 1997 -98, it had supplied to the respondent -Company 13,404.60 quintals of wheat in 14,117 bags for the value of Rs. 70,39,492.58 paise. There were similar transactions in respect of the year 1998 -99. There are numerous payments made by the respondent -Company to the petitioner -firm but balance payment of Rs. 17,33,082.34 paise is claimed to be outstanding amount.;