( 1 ) THIS is an appeal from a receiving order passed by the Company Court on the 22nd of July, 2004, whereby the respondent's petition for winding up of the appellant company was admitted and directions for advertisement were given.

( 2 ) THE statutory notice dated 31st July, 2003 had been served on the appellant company for a debt of Rs. 52. 33 lac approximately. The case of the respondent in the statutory notice as well as in the winding up petition was put very simply. According to them during the period October, 2001 and January, 2003 they had supplied the company diverse quantities of steel plates and H. R. Coils, and upon such supplies being made and received they also raised upon the company the corresponding bills from time to time, the bills representing separate supplies individually. In the petitioning creditor's chart the bills aggregate approximately rs. 5. 09 crore and they have given credit to the company for the payments made by it from time to time aggregating approximately Rs. 4. 57 crore.

( 3 ) THE petitioning creditor claimed the balance amount as price of goods sold and delivered.

( 4 ) THE company filed an affidavit-in-opposition to wh