TENAX INDIA STONE PRODUCTS PVT LTD Vs. AANKIT GRANITES LTD

JUDGEMENT

(1.) THIS is an appeal by the appellant challenging the order passed by the learned Company Judge who has dismissed the company petition on the ground that there is no plea and there is no material to show that the respondent company is unable to pay the debt due to the petitioner company. Further, it was held that having regard to the nature of the defence taken by the respondent company, it is a triable issue and therefore, he declined to entertain the petition filed under Section 433(e) of the Companies Act.

(2.) THE appellant is a private limited company incorporated under the provisions of the Companies Act. THEy have supplied material called 'epoxy', a chemical used to fill the cracks in granite to the respondent company, Annexure-A, the statement of accounts maintained by the appellant show that the respondent was due in a sum of Rs.4,21,894/-. In spite of repeated requests and demand, the said amount was not paid. THEreafter, a statutory notice came to be issued on 13.11.2008 as per Annexure-B. No reply was sent to the said notice. Hence, they were constrained to file a company petition. In the statement of objections, the respondent did not dispute the supplies but have contended that the material supplied by the petitioner was sub-standard material and as a result, they have incurred extra costs. Hence, they have claimed compensation for the extra cost incurred by them as per Annexure-R1.

(3.) ACCORDINGLY, the appeal is allowed. The order passed by the learned Company Judge is set aside. The entire matter is remitted to the learned Company Court for disposal in accordance with law. Appeal allowed.