Sabina, Chandra Kumar Songara,J. - (1.) Appellant has filed appeal challenging the order dated 18.03.2020 passed by the learned Company Judge.
(2.) Learned counsel for the appellant has submitted that the learned Company Judge has erred in allowing the winding petition filed by the respondent. In-fact, the respondent No.1 had failed to produce its own balance-sheets and from the balance-sheets of the respondent No.1, it was apparent that no amount was due against the appellant.
(3.) Learned counsel for the respondent No.1, on the other hand, has opposed the appeal and has submitted that the learned Company Judge has rightly allowed the winding petition. Appellant had failed to pay the amount due to the respondent No.1- Company, despite, the execution of Tripartite Agreement between the parties. In pursuance to the said agreement, proceedings initiated by the respondent No.1-Company under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as "the Act of 1881") were withdrawn. Hence, there was no necessity for the respondent No.1-Company to have produced the balance- sheets.;