R. BANUMATHI, J.

1. Challenge in this appeal is the order dismissing the application C.A.No.968 of 2008 in C.P.No.17 of 2004 [07.06.2010] whereby the learned single Judge declined to issue direction to the Official Liquidator to pay a sum of Rs.49,20,061/- to the Appellant towards the value of 4500 MTs of pulpwood supplied by them.

2. Brief facts are that on 06.04.2000, Appellant had supplied pulpwood to the Company in liquidation - M/s. South India Viscose Industries Limited, Coimbatore (SIV Industries) subject to the terms and conditions of supply. Both Appellant and the Company in liquidation entered into a contract for supply of 4500 MTs of pulpwood. Supply of pulpwood is subject to terms and conditions as per the enclosure to the letter dated 06.04.2000. Company reserved the right to reject the part/full load of pulpwood supplied if the supply was found to be nor in accordance with specification. The pulpwood supplied by the Appellant was not accepted. On 06.04.2002, Appellant wrote a letter to the Company in liquidation to return the pulpwood supplied, as the pulpwood supplied was not accepted. On coming to know about the proceedings before the Board for Industrial