DEEPAK KEJRIWAL Vs. GOVINDA ENTERPRISES PRIVATE LTD

JUDGEMENT

(1.) Both the appeals are arising out of self-same order. The appellant under the first (numbered) appeal was the petitioning creditor being C. P. No. 174 of 2003 (Govinda Enterprises (P.) Ltd. v. Deepak Kejriwal) under Sections 433, 434 and 439 of the Indian Companies Act, 1956, before the learned single judge sitting in the company jurisdiction. The second (numbered) appeal as aforesaid is made by the company itself.

(2.) Factually, the petitioning creditor sold, supplied and delivered certain materials in between November 9, 2001 and June 22, 2002. The company duly accepted the goods without raising any objection. After giving credit a sum of Rs. 18,96,453.20 is unpaid along with the claim of interest at 24 per cent. per annum. The company took two defences. The first one is that due to abrupt stoppage of supply the company suffered damages. In reply to the statutory notice the tune was for a sum of Rs. 50 lakhs wherein in the affidavit-in-opposition the tune was Rs. 3,50,000. The further defence of the company is that actually between July 25, 2001 and June 22, 2002, the petitioning creditor sold, supplied and delivered materials worth Rs. 73,93,423.50. After giving credit to all sums and the claim of damages a sum of Rs. 1,67,120.55 appears to be due and payable.

(3.) The learned judge of company jurisdiction admitted the sum of Rs. 1,67,120.55 and for the balance Rs. 17,29,332.65 relegated to the suit on the condition of furnishing bank guarantee of the said sum.