Himachal Pradesh Court October 1997 Judgments
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Essar Gujarat Ltd. (Steel Division) Vs. United Ispat Udyog Pvt. Ltd.
Court: Himachal Pradesh
Decided on: Oct-22-1997
Reported in: [1999]97CompCas842(HP)
P.K. Palli, J.1. This petition has been filed by the petitioner/creditor for winding up of the respondent-company under the provisions contained in Sections 433(e), 434 and 439 of the Companies Act, 1956.2. The petitioner is a public limited company with its registered office at Surat (Gujarat) and is engaged in the production of iron and steel. The respondent-company placed orders for the supply of various products and the payment was to be made at the time of placing the order. It is averred that goods were supplied between June 25, 1991, and May 31, 1993, undervarious delivery challans and invoices. Details are given in the statement of account placed on record as annexure C. As per statement of account an amount of Rs. 74,94,262.37 is said to be due from the respondent to the petitioner. The respondent is said to have given various cheques from time to time in favour of the petitioner for the amount totalling to the out said above. The details are given in annexure D. The cheques a...
Essar Gujarat Ltd. (Steel Division) and Shree Venkatesh Trades and Age ...
Court: Himachal Pradesh
Decided on: Oct-22-1997
Reported in: [1999]97CompCas726(HP)
P.K. Palli, J.1. Both the petitions (Company Petitions Nos. 8 of 1993 and 2 of 1995) are taken up together and are being disposed of by a common judgment as the points raised in both the petitions and the replies are almost common.2. These petitions have been filed under Section 439 read with Sections 433 and 434 of the Companies Act, 1956, with the prayer that as the respondent-company has commercially gone insolvent and is unable to discharge its debts, it is just and equitable as well as necessary in the interest of the creditors that the company be wound up under the provisions of the Act.3. Notices were issued by this court to show cause why the petitions be not advertised. Replies have been filed. A lot of time of this court was consumed by the parties to get the matter settled amicably but with no fruitful result.4. Company Petition No. 8 has been filed by Essar Gujarat Ltd. (Steel Division) against Shree Kangra Steels Pvt. Ltd., on the allegations that the petitioner in pursuan...
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