( 1 ) THIS Winding-up Petition has been filed under section 433 (e) and 433 (1) (a) of the Companies Act with the grievance that the Respondent is liable to pay the petitioner a sum of Rs. 26,68,000/- (Rs. Twenty Six lakhs Sixty Eight Thousands only) along with interest at the rate of 18% per annum. The Claim is premised on two bills dated 31. 12. 1996 and 15. 5. 1997 for a sum of rs. 9,73,500/- (Rs. Nine Lakhs Seventy Three Thousand five Hundred only) and Rs. 16,95,000/- (Rs. Sixteen lakhs Ninety Five Thousands only) respectively. It has been vehemently argued that despite several written reminders, payments in respect of these Bills have not been released. Despite its delivery the Statutory notice dated 22nd March, 1999, has similarly failed to elicit any response. It is further contended that upon a perusal and consideration of the defence put forward, the present Petition deserves to be allowed.

( 2 ) ON behalf of the Petitioner the following cases have been relied upon. 1. AIR 1999 Delhi 27. GKW. Ltd. Vs. Shriram Bearings Ltd. 2. 52 (1993) DLT 577. Mayar Traders Ltd. Vs. Akhil Services Ltd. 3. 73 (1998) DLT 593. Rishi Pal Gupta Vs. M/s. S. J. Knitting and finishi