Vijay Industries And Projects ... vs National Fertilisers Ltd.
2003 Latest Caselaw 947 Del

ORDER

Mukundakam Sharma, J.

CP 237/2002 and CA 666/2002 :

1. The present petition was filed by the petitioner praying for an order of winding-up of the respondent-company on the ground that it is indebted to the petitioner and that the respondent is unable to pay its debt. My attention is drawn to the resolution passed at the Board Committee Meeting of the Directors of the petitioner held on 30th January, 2002. It is also pointed out from the said resolution that the amount of Rs. 7,06,980/- has only been shown as undisputed amount. It is also the definite stand of the respondent in the reply filed that the balance amount of Rs. 16,77,655/- is disputed as the said amount relates to claim towards liquidated damages which according to the respondent is to be deducted by the respondent as liquidated damages under Clause 23 of the Agreement between the parties. Learned Counsel for the petitioner states that the said amount cannot be deducted as liquidated damages and therefore the petitioner would take recourse to appropriate proceedings and would approach the appropriate Forum for recovery of such amount from the respondent.

2. In view of the aforesaid position and the amount of Rs. 16,77,655/- being a disputed amount no order could be passed in respect of the said amount in this petition. However, the amount of Rs. 7,06,980/- appears to me to be an undisputed amount. Therefore, the said amount shall be paid by the respondent to the petitioner within three weeks from today. The petitioner shall, however, furnish to the respondent a certified copy of the certificate issued by the Registrar of Companies regarding the change of name of the petitioner-company within a week from today. So far the balance amount of Rs. 16,77,655/- is concerned the petitioner has the liberty to approach the appropriate Forum for recovery of the said amount. It shall also be open to the petitioner to file appropriate proceedings for claiming and recovering interest, if any, on the undisputed amount in accordance with law.

3. The petition stands disposed of in terms of the aforesaid observations and directions.