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IN THE MATTER OF M/S CIMMCO BIRLA LTD versus IN THE MATTER OF M/S OSWAL CHEMICALS & FERTILIZERS LTD

High Court of Judicature at Allahabad

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In The Matter Of M/S Cimmco Birla Ltd v. In The Matter Of M/S Oswal Chemicals & Fertilizers Ltd - COMPANY PETITION No. 62 of 2003 [2007] RD-AH 4382 (14 March 2007)

 

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).

HIGH COURT OF JUDICATURE OF ALLAHABAD

Hon. Sunil Ambwani, J.

This creditors' winding up petition is filed on the ground of non-payment of admitted liability and further on the ground that defence to the liability is sham.   On the other hand it is contended that the accounts were reconciled.  The liability is not admitted and that the company is not commercially insolvent, to merit consideration for winding up.

It appears that out of the work order of Rs.18.44 crores, bills were raised for Rs.17.99 crores and that Rs.17.26 crores was paid.    The dispute is now confined to the payment of Rs.73,61,000/- and further non-issuance of Form-C under the Trade Tax Act for Rs.85,18,905/-.

On a suggestion made by the Court, the counsels  agree that they will make an attempt for mediation of the dispute with the help of the 'Allahabad High Court Mediation and Conciliation Center'.

Let both the parties appear before 'Allahabad High Court Mediation and Conciliation Center' on 02.4.2007 with their counsels for nominating a mediator and with the statement of case and the requisite documents that the parties may like to rely upon, and  with the bank draft of Rs.2500/- each, drawn in favour of 'Registrar General A/c Allahabad High Court Mediation and Conciliation Center'.  Parties are allowed six weeks' time to mediate the matter.

List on 14.5.2007 with the report from the Mediation Center.  A copy of the order shall be sent to the Mediation Center.

Dt.14.3.2007


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Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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