SHIVMONI STEEL TUBES LIMITED IN LIQUIDATION Vs. TAMIL NADU ELECTRICITY BOARD

JUDGEMENT

(1.) THIS application has been filed by the official liquidator on behalf of the applicantm/s. Shivamoni Steel Tubes Limited (in liquidation), under Section 446 (2) (b) of the Companies Act, 1956 (hereinafter referred to as the "act") and Rule 9 of the Companies (Court) Rules, 1959, seeking for a direction to the respondent to pay a sum of Rs. 3,56,943 with interest on the sum of Rs. 1,81,205 at 12 per cent, per annum from the date of application, i. e. , November 11, 1997, till the date of judgment and for payment of future interest and costs.

(2.) IT is averred in the application that M/s. Shivamoni Steel Tubes Limited was ordered to be wound up by an order dated September 8, 1995, passed by this Court in Company Petition Nos. 49 of 1994 and 157 of 1992 and the official liquidator attached to this Court became the liquidator of the company by virtue of Section 449 of the Act. The respondent was having trade transactions with the applicant-company and as per the books of account maintained by the company and the statement of affairs filed by the ex-directors of the applicant-company, the respondent is indebted to the company in a sum of Rs. 1,81,205 towards trade dealings with it. As on October 1, 1989, the respondent was liable to pay Rs. 1,81,205 and the respondent is also liable to pay interest and the total amount due to be paid by the respondent is as follows : <FRM>JUDGEMENT_286_TLKAR0_2006Html1.htm</FRM>

(3.) IT is further averred that notice was issued by the applicant to the respondent on March 24, 1997, calling upon them to pay the amount due and the acknowledgment has been returned with postal shara "refused" and wherefore, the application for the abovesaid amount from the respondent.