M. P. CHANDRAKANTARAJ, J.

( 1 ) THIS is a petition under S. 433 (e) and (f) of the Companies Act, 1956 (hereinafter referred to as 'the Act' ). The petitioner is a registered firm under the Partnership act. The petitioner firm is a dealer in chemicals. The petitioner firm has alleged that it supplied on various dates commencing from 6-11 1979 till 27 12 1979 chemicals to the respondent- company amounting to Rs. 35,180 60. It is further alleged that a sum of Rs. 17,700 in respect of the various invoices has been paid and the balance has not been paid in spite of statutory notice issued. Therefore, the present petition seeking for winding up of the respondent Company as it is unable to pay its debts.

( 2 ) THE petition is resisted by the respondent Company on the ground that the claim of the petitioner-firm is not tenable to a large extent ; that the respondent-Company is liable to pay only the sum of rs. 8,237-30 ; that the petitioner-firm was informed of this position as far back as 31-1-1981; that one of the Directors of respondent Company wrote to the petitioner-firm denying the liability to pay the sum of Rs. 17,700 but admitted the laibility to the extent of Rs. 8,237-30. Even a

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