Mukundakam Sharma, J.

( 1 ) THE petitioner has filed the present company petition praying for orders of winding up of the respondent company on the ground that the respondent company is indebted to the petitioner and that it is unable to pay its debts and that it has become commercially insolvent.

( 2 ) BRIEFLY stated, the facts of the case are that the respondent purchased Cathode Ray, Tubes (picture tubes for TV sets) from the petitioner. Against the supplies made by the petitioner a sum of Rs. 1,22,45,996. 27p was due and payable by the respondent as per the reconciled balance as on 17. 3. 2000. The respondent gave a balance confirmation vide confirmation note dated 17. 3. 2000 and the said confirmation dated 17. 3. 2000 is placed with the documents filed by the petitioner. Therefore, in terms of the balance confirmation note given by the respondent debt to the aforesaid extent is admitted by the respondent.

( 3 ) AFTER the respondent gave the confirmation note dated 17. 3. 2000, the petitioner supplied further material from time to time for the total invoice value of Rs. 84,91,600. 00. As against the previous outstanding balance amount of a sum of Rs. 1,22,45,996. 00 and agains

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