HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.216 of 2012 Date:28.07.2014 Between:
M/s Hyperion Green Energy India Private Limited, Hyderabad, reptd by its Managing Director-Ramakrishna Putta And:
M/s MIC Electronics Limited, Hyderabad, reptd by its Managing Director-M.V.Ramana Rao ……Petitioner … Respondent Counsel for the petitioner: Sri Sivaraju Srinivas For M/s Panasia Advocates & Consultants Counsel for the respondent: Sri Bodduluri Srinivasa Rao The Court made the following:
HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.216 of 2012 ORDER:
This Company Petition is filed for ordering winding up of the respondent for non-payment of the debt due to the petitioner.
For disposal of this Company Petition, detailed facts need not be recorded. It will suffice to note that according to the respondent a sum of Rs.68,73,179/- is due and payable by it, though the petitioner has pleaded a sum of Rs.2,65,64,723/- is due and payable by the respondent.
This case underwent several adjournments to enable the respondent to pay at least the admitted amount.
At the hearing, it has come out that the respondent has paid the entire admitted amount of Rs.68,73,179/-.
Sri Sivaraju Srinivas, the learned counsel for the petitioner, stated that the respondent is still due and payable substantial money.
Sri Srinivas Rao Bodduluri, the learned counsel for the respondent, stated that the balance amount claimed by the petitioner is a seriously disputed debt.
In the light of the fact that the respondent has paid the admitted amount on the insistence by this Court, I am of the opinion that the petitioner may avail common law remedy available to it under law for recovery of the balance disputed amount.
Subject to the liberty given to the petitioner as above, the Company Petition is closed.
28th July, 2014 DR
JUSTICE C.V.NAGARJUNA
REDDY