S.K. Singh JUDGMENT
Vikramajit Sen, J.
1. Both these Appeals assail the common impugned Order passed by the Division Bench of the High Court at Calcutta on 29.9.2003, setting aside the Order passed by the Company Judge rejecting the plea of the Respondent that the so-called concession made by the Junior Counsel should not be given curial recognition.
2. The facts, succinctly stated, are that the Appellant had filed Winding-up petitions against the Respondent on the asseveration that debts admittedly payable by the Respondent to the Petitioner had remained outstanding even subsequent to the issuance of a statutory Notice issued Under Section 434 of the Companies Act. 1956. Keeping in perspective the nature of the question of law raised before us, we need not go into the genesis or the characteristics of the contract between the parties. So far as Civil Appeal No. 7373 of 2005 is concerned, the claim was for a sum of Rs. 3,54,500/- together with interest at the rate of ten per cent per annum together with Rs. 1,09,958/- deducted by the Respondent on account of the tax deducted at source (TDS). These amounts have remained unpaid even after the receipt of the statutory notice. It is palpably clear that the statement made by the Learned Counsel for the Respondent that these amounts would be paid in ten equal installments commencing from 16.8.2002, was so done in order to avert the ordering of an advertisement/citation in the proceedings by the Company Judge. In Civil Appeal No. 7374 of 2005, the claim was for a sum of Rs. 8,08,314/- together with interest at the rate of ten per cent per annum together with Rs. 1,24,984/- which had been deducted by the Respondent on account of TDS. It appears that these amounts were admitted by the Respondent in terms of its letter dated 8.2.2000 as also in the Affidavit of the Manager (Corporate) of the Respondent who, at the material time, was its Principal Officer. In the said Affidavit, it was admitted that the total amount payable was Rs. 8,05,664/- which was being retained awaiting final clearance from TISCO who had floated the subject turnkey project. As in the foregoing instance, the Company Judge recorded the statement of the counsel for the Respondent offering to pay the principal sum of Rs. 8,05,664/- together with Rs. 1,24,984/- in four equal installments commencing from 6.8.2002. It had been made clear by the Company Judge vide Orders dated 24.7.2002 that if these payments were not made, the Winding-up petitions would stand admitted and it would be open to the Appellant to pray for advertisement/citation. A fortnight later, i.e. on 8.8.2002, the foregoing Orders were modified by the consent of the parties to the effect that it would be open to the Respondent to pay off the dues together with the interest accrued in eight monthly installments instead of four monthly installments as was directed in the Order dated 24.7.2002.
3. In these circumstances, these orders passed on the concession of the Learned Counsel for the Respondent were challenged by the Respondent before the Division Bench of the High Court, which we cannot but view as extraordinary. The Division Bench disposed of t........