1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.306 OF 1992 IN COMPANY PETITION NO.41 OF 1986 M/s.Godfrey Philips India Ltd. .. Petitioners And The OL, High Court, Bombay .. Applicants Vs. The India United Mills No.1. .. Respondents Mr.Manoj Dalvi for respondents. Mr.S.Ramakantha, Dy.O.L. present. Mr.Salame H.R Labour Officer present. CORAM : S.C.DHARMADHIKARI, J. DATE : 04th July 2008 P.C. . This is an application by the OL of M/s.Machinery Manufacturers Corporation Ltd, Company in liquidation for a direction to the respondents to pay a sum of Rs.03,09,878/- with interest at 12%. The Company Application is filed on 11th August, 1992. 2. The OL in the affidavit in support has stated that the company in liquidation supplied 2 machines and machinery parts and during the course of its business it supplied such machineries to the respondents. As per the available record and statement of affairs so also ledger maintained, a sum of Rs.03,09,878.89/- is shown as debit balance against the respondents. Therefore, the respondents are liable to pay that sum. 3. The affidavit has annexed to it an invoice which sets out the value of the goods supplied. The value is computed at Rs.01,00,000/-. 4. It is contended on behalf of the respondents that the respondent is a textile mill which has now been nationalised under the Sick Textile Nationalisation Act, 1974. The transaction is admittedly after the said period of nationalisation. In such circumstances, the National Textile Corporation accepts the responsibility to pay the principal sum. 3 5. After the matter was argued for some time and considering that the Company Application is pending since 1992, the OL has stated that if the National Textile Corporation Ltd pays/deposits with him a sum of Rs.01,00,000/- within a period of two weeks from today, he will close the account in so far as the subject recovery. Mr.Dalvi appearing for the respondents after taking instructions from the Labour Officer Mr.Salame makes a statement that the sum of Rs.01,00,000/- will be paid within period of two weeks from today. Needless to state that if respondents National Textile Corporation Ltd. commits default in depositing the said sum, the liquidator is at liberty to recover the entire sum as claimed in the Company Application alongwith interest and even by taking recourse to coercive measures against the National Textile Corporation Ltd, Company Application is made absolute in above terms. No orders as to costs. 4 (S.C.Dharmadhikari, J)