Milap Chandra Jain, J. - (1.) The company petition has been filed by Dawn Communications (P) Ltd., New Delhi (in short, petitioner company) under section 433(e) read with section 439 of the Companies Act, 1956, against Rajasthan Petro Synthetics Ltd., Udaipur (in short, respondent company) with the averments, in short, as follows : The petitioner company was incorporated on 5 June, 1991. In accordance with its main objects, it took over the running and continuing business of the proprietorship firm Dawn Communications, New Delhi, along with all their assets and liabilities. The respondent company appointed Dawn Communications, New Delhi, (proprietorship firm), as their advertising agents. They carried out the advertising work as per orders of the respondent company. Seven bills of total amount of Rs. 75,891.60 were submitted to it. Despite several demands and notices, payment of the said amount has not been made. For the first time, the respondent company raised certain objections against the bills vide letter dated 1 June, 1991. After the incorporation of the petitioner company, notice was served on its behalf also to the respondent company demanding the said amount along with interest.
(2.) In reply, the respondent company has taken a preliminary objection that no amount was payable by it to the petitioner company when this petition was filed as, admittedly, the petitioner company is claiming the amount from it in respect of certain work got done by it from Dawn Communications, New Delhi, (proprietorship firm), and as such the petitioner company was not a creditor of the respondent company when this company petition was filed.
(3.) Arguments of the learned counsel for the parties have been heard.;