1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH : NAGPUR COMPANY PETITION NO. 14/2008. ( M/s. Sayaji Iron and Engineering Co. Ltd. -: versus :- M/s. Grade Industries Ltd. ) Office Notes, Office Memoranda of Coram, appearances, Court's orders Court's or Judge's orders or directions and Registrar's orders. CORAM : B.P. DHARMADHIKARI, J. DATED : FEBRUARY 11, 2010. Heard Shri N. Rizwy, learned counsel for petitioner and Shri A. Jaiswal, learned counsel for respondent. The facts disclose that demand notice under Section 433 dated 09.01.2007 was replied to by the respondent on 20.02.2007 pointing out that they were adjusting late delivery charges at 0.5% in accordance with the stipulation in purchase order/contract. It is further pointed out that the performance guarantee at 10% was not supplied as agreed and hence if these amounts are adjusted the applicants/petitioners are not entitled to receive anything. The rival contentions clearly show that the civil liabilities of parties are required to be looked into and the contentions therefore do not give rise to any cause of action under Section 433 and 434 of the Companies Act, hence 2 with liberty to the applicant/Company to take such other course as is available to them in law, the present Company Petition is disposed of, with no order as to cost. JUDGE Rgd.