M.P.CHANDRAKANTARAJ
U. V. SHENOY – Appellant
Versus
KARNATAKA ENG. PRODUCTS CO. P. LTD. – Respondent
( 1 ) THIS is a petition filed by one U. V. Shenoy under Ss. 433 (e) and (f) read with Ss. 434 (1) (a) and 439 (1) (b) of the Companies Act (hereinafter referred to as the Act) praying for an order winding up the 1st respondent-Company.
( 2 ) IT is petitioner's case that the 1st respondent-Company owes a sum of Rs. 33,490-55 in respect of certain items of goods supplied by him to the Company. It is unnecessary to set out in detail the claim. It is further alleged that some of the amounts due had in fact been paid by cheques which on presentation to the syndicate Bank, Gandhinagar Branch came to be dishonoured - In that circumstance a fresh demand was made and statutory notitce issued in spite of which the 1st respondent-Company and the Directors failed and neglected to pay the sums demanded. Therefore, the petition.
( 3 ) THE petition has been resisted on the ground that no sums are due by the company or its Directors to the petitioner in as much as the various items of goods supplied were returned as they were of sub-quality than what was contracted. It is further alleged by the managing Director of the Company that on account of the sub-quality of goods s
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