Delhi High Court
Ultratech Cement Ltd. vs Brys International Pvt. Ltd on 20 September, 2017
$~C-63
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Delivered on: 20th September, 2017
+ CO.PET. 359/2016
ULTRATECH CEMENT LTD. ..... Petitioner
Through : Ms.Deepa Sharma, Adv.
versus
BRYS INTERNATIONAL PVT. LTD ..... Respondent
Through : None
CORAM:
HON'BLE MR.JUSTICE YOGESH KHANNA
YOGESH KHANNA, J.
1. On 07.10.2016 none appeared on behalf of the respondent
despite service of notice and even no affidavit of the Managing
Director in terms of order dated 02.05.2016 was filed. In the
interest of justice, adverse orders were deferred and status quo qua
the disposal of company's property was given. On 11.04.2017 the
counsel for the respondent appeared and prayed for some time to
file Vakalatnama, the reply to petition and the affidavit of
Managing Director, as directed. Today no one has appeared on
behalf of the respondent. Neither vakalatnama/reply is filed nor
the Managing Director of respondent is present. Hence I proceed
to hear the petition.
2. It is the case of the petitioner that the respondent company
through its directors had approached them at its office for the
supply of UltraTech Concrete and its pumping order at its site at
Noida. Pursuant to the orders placed by the respondent
company, petitioner supplied total material weighing 4813.99
CUM and services as per requirement of the respondent
company time to time for a total amount of Rs.3,48,26,550.04/-.
Out of the above amount, payment of Rs. 2,45,44,786/- was
made by the respondent company time to time and credit notes
of Rs. 3,54,664/- were also issued during the period
commencing from 01.04.2014 to 02.01.2016 leaving an
outstanding amount of Rs. 99,27,100.04/-.
3. Between the year 2014-16 pursuant to the orders placed by
the respondent company for purchase and pumping of Ultratech
Concrete; petitioner duly sold, supplied and delivered to the
respondent company a total of 6497.5 CUM of concrete during
the financial year 2014 -15 and 2015-16.
4. In the year 2015 the respondent company through its
directors in discharge of its part liability towards the outstanding
amount issued various cheque's from time to time in favour of
the petitioner, which when presented for encashment, were
dishonored. The petitioner and respondent were also
maintaining a mutual running ledger account and the respondent
company vide endorsement/affixing its seal on such ledger
accounts had duly admitted and acknowledged its liability to pay
the dues of Rs.99,27,100.04/- payable as on 19-05-2015.
5. On 17.02.2016 a statutory notice was issued but the
respondent neither paid the money nor gave reply to the said
notice.
6. A copy of the ledgers is filed as Annexure P-8 (colly) and
it bear the stamp of the respondent company with signatures of
its authorized representative. As per the ledgers an amount of
Rs. 99,27,100.04/- is lying outstanding against the respondent as
on 19.05.2015. Besides acknowledgement in ledgers, the
respondent company issued three cheques for the same amount
which too were also dishonoured, copies whereof is Annexure
P7.
7. Thus, considering the fact that neither any reply to the
petition is filed on record nor affidavit of Managing Director is
filed and neither he is present today coupled with the fact the
company had neglected to pay the just dues of the petitioner
without reasonable cause or excuse, hence there is no reason as to
why the company petition be not admitted. For the reasons
aforesaid the company petition stands admitted.
8. The Official Liquidator attached to this Court is appointed as
the Provisional Liquidator. He is directed to take over all the
assets, books of accounts and records of the respondent-company
forthwith. The citations be published in the Delhi editions of the
newspapers 'Statesman' (English) and 'Veer Arjun' (Hindi), as
well as in the Delhi Gazette, at least 14 days prior to the next date
of hearing. The cost of publication is to be borne by the petitioner
who shall deposit a sum of Rs.75,000/- with the Official Liquidator
within 2 weeks, subject to any further amounts that may be called
for by the liquidator for this purpose, if required. The Official
Liquidator shall also endeavour to prepare a complete inventory of
all the assets of the respondent-company when the same are taken
over; and the premises in which they are kept shall be sealed by
him. At the same time, he may also seek the assistance of a valuer
to value all assets to facilitate the process of winding up. It will
also be open to the Official Liquidator to seek police help in the
discharge of his duties, if he considers it appropriate to do so. The
Official Liquidator to take all further steps that may be necessary
in this regard to protect the premises and assets of the respondent-
company.
9. In addition, the directors of the respondent-company shall
file their statement of affairs within 21 days from today before the
Provisional Liquidator. It is made clear that in the event the said
statement of affairs is not so filed within the specified time, the
concerned Directors, including the Managing Director of the
respondent-company, shall remain personally present in Court on
the next date of hearing, in order to enable this Court to examine
them, if required, on that date.
10. Respondent company is directed to file an affidavit before
the Provisional Liquidator hereby appointed, within 2 weeks from
today, furnishing the following details:-
(i) The names and address of the Managing Director and
Directors of the respondent-company.
(ii) Latest address of the registered office and corporate
office of the Respondent Company.
(iii) The location of the books of accounts of the
respondent-company.
(iv) The details of the movable and immovable assets of
the company and the details of the Bank account operated in
the name of the respondent company and statement of
account thereof.
11. The respondent-company, as well its directors, are restrained
from alienating, encumbering, or otherwise parting with possession
of the assets of the respondent-company without the leave of this
Court. The Official Liquidator shall file a compliance report before
the next date of hearing.
12. A copy of the petition along with annexures be supplied to
the Official Liquidator.
13. As the company petition is admitted, in view of above order
CA No. 1568/2016 stands disposed of.
CO.PET. 359/2016
14. List on 15.03.2018.
YOGESH KHANNA, J
SEPTEMBER 20, 2017
VLD
