UMESH CHANDRA BANERJEE, CJ.

( 1 ) THIS appeal is directed against the order of the learned single Judge admitting the Company Petition filed by the respondent - petitioner under section 433 of the Companies Act, 1956. The only defence raised before the learned single Judge is the plea of limitation. There cannot possibly be any doubt that the plea of limitation would be a substantial defence in an application for winding up provided/ however, it has its sustenance from the factual score.

( 2 ) ON the wake of the aforesaid, let us advert to the factual aspect of the matter briefly at this juncture: Admittedly, the respondent-Company had supplied C. I. castings, fan body, bottom covers etc. , to the appellant - company in the month of August, 1992 under two separate bills i. e. , for Rs. 98,268. 77 ps. and Rs. 1,32,939. 46 ps. , totalling Rs. 2,31,298. 23 ps. The petitioner before the learned single Judge did serve a legal notice on 03-08-1995 and thereafter a statutory notice under Section 434 of the Companies Act on 27-08-1996. The appellant - company, however, thought it prudent not to reply to any of the notices as above and by reason of which, the petitioner before the learned s

Click Here to Read the rest of this document