1. Petitioner is a Proprietor of M/s. Suresh Chand Subash Chand and deals in the business of sale and purchase of food grains from New Anaj Mandi, Ateli, District Narnual, Haryana. The respondent is a Proprietorship Concern and has installed a Mill in the name of M/s. Ishan Industries situated at Lane No. 6 SIDCO Industrial Complex, Bari Brahamana, Jammu for extracting the mustard oil. The raw-material for mustard oil is procured by the respondent from various places. The respondent has been dealing with the petitioner for purchasing mustard seeds since 2nd June, 2010 and has transacted business with him till 17.07.2011.

2. It is contended by the petitioner that he sold mustard seeds to respondent and part payment of the amount of sale consideration was made, but, an amount of Rs. 1,54,03,939.00 remained unpaid. The total amount payable as on 17.07.2011 inclusive of interest came to Rs. 1,56,74,270.00. Out of this, the respondent had paid an amount of Rs. 1,56,25,208.00 and remaining amount of Rs. 49,062/- was not paid. Hence, for non-payment of balance amount, petitioner issued legal notice dated 30.07.2011 through his counsel in which it was specifically stated to make the payment

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