The case involves a petition filed under Section 433 and 434 r.w. Section 439 of the Companies Act, 1956, initially in the High Court of Gujarat and later transferred to the NCLT. The petitioner, Steel Associates, seeks the dissolution of the respondent, Richfield Engineering India Private Limited, and the appointment of a liquidator, citing an outstanding debt of Rs. 33,68,190/-. The respondent disputes the quality and quantity of goods supplied, leading to a series of appeals and challenges before various courts, including the Supreme Court.
Steel Associates, a proprietorship firm and wholesaler/retailer of iron and steel products, supplied steel materials to Richfield Engineering India Pvt. Ltd. between January 2014 and March 2014. The total amount due was Rs. 33,68,190/-, including principal and interest. Richfield Engineering failed to make payments within the agreed 45/60 days. Steel Associates issued a statutory notice under Section 433/434 of the Companies Act, 1956, on 18.10.2014, but Richfield did not reply. Richfield claimed the materials were substandard and rejected by their client, IOCL, leading to losses. However, Steel Associates argued that Richfield did not raise disputes promptly and that the invoices were for materials supplied after the alleged rejection. The case was initially filed in
…Sign in to view the parties.
Steel Associates supplied steel materials to…
Steel Associates issued a statutory notice…
The case involves a petition filed under Section 433 and 434 r.w. Section 439 of the Companies Act, 1956, initially in the High Court of Gujarat and later transferred to the NCLT. The petitioner, Steel Associates, seeks the dissolution of the respondent, Richfield Engineering India Private Limited, and the appointment of a liquidator, citing an outstanding debt of Rs. 33,68,190/-. The respondent disputes the quality and quantity of goods supplied, leading to a series of appeals and challenges before various courts, including the Supreme Court.
Steel Associates, a proprietorship firm and wholesaler/retailer of iron and steel products, supplied steel materials to Richfield Engineering India Pvt. Ltd. between January 2014 and March 2014. The total amount due was Rs. 33,68,190/-, including principal and interest. Richfield Engineering failed to make payments within the agreed 45/60 days. Steel Associates issued a statutory notice under Section 433/434 of the Companies Act, 1956, on 18.10.2014, but Richfield did not reply. Richfield claimed the materials were substandard and rejected by their client, IOCL, leading to losses. However, Steel Associates argued that Richfield did not raise disputes promptly and that the invoices were for materials supplied after the alleged rejection. The case was initially filed in
…Steel Associates supplied steel materials to…
Steel Associates issued a statutory notice…