JUDGMENT

1. This Company Petition has been preferred under Sections 433(e), 434 and 439 of the Companies Act, 1956 seeking winding up of the respondent company - M/s Space Turtle Private Limited, on the ground of non-payment of outstanding dues to the petitioner company amounting to Rs. 1,46,97,609/- arising out of purchase orders for the period 01.09.2014 to 31.03.2015, along with due interest.

BRIEF FACTS

2. Briefly stated, the petitioner company is engaged in the business of outdoor advertising and has the license for display and management of advertisements at several places in Delhi including the DND Flyover. On the other hand, the respondent company is in the business of Real Estate and allied activities, including the development, marketing and sale of residential/commercial properties in the Delhi- NCR region.

3. It is the case of the petitioner that the respondent company engaged the petitioner company to place and display certain corporate advertisements of its company at various desired places in Delhi, pursuant to which 7 purchase orders were placed by the respondent company, for the period 1.09.2014 to 31.03.2015.

4. Thereafter, respective invoices against the purchase orde