Judgment : 1. This company petition is filed under Sections 433(e), 434(1)(2) and 439(1)(b) of the Companies Act, 1956 to (i) order that M/s. Karpaga Ganapathi Textile Process (P) Ltd., the respondent company having its Registered Office at 28A, Sadaiappan Koil 2nd Street, Vavipalayam, Tiruppur – 614 601, be wound up, under the provisions of Section 434 of the Companies Act, 1956; (ii) appoint the Official Liquidator as the Provisional Liquidator to take charge of all the assets and affairs of the respondent company. 2. During the course of business, in the years 2006 and 2007, the petitioner appears to have supplied some chemicals to the respondent and a sum of Rs.5,60,937/- was due as on 14.12.2007. On 4.12.2007, the petitioner issued a credit note waiving a sum of Rs.85,260/- on the sum of Rs.5,60,937/- and requested the respondent to pay the balance amount. The respondent raised a debit note on 31.3.2008 for a sum of Rs.25,168/- and yet another debit note on 6.11.2007 for Rs.7,787/-. The balance due was Rs.4,42,722/-. 3. According to the respondent, pending the company petition, the above said amount has been paid by the respondent in full quit. The payments were made by the respondent as under : D.D.No.081782, dated 28.2.2009 Rs.1,00,000.00 D.D.No.082000, dated 16.4.2009 Rs.1,00,000.00 D.D.No.001251, dated 30.3.2010 Rs.1,00,000.00 D.D.No.001250, dated 30.3.2010 Rs.1,00,000.00 D.D.No.001256, dated 30.3.2010 Rs.42,723.00 Rs.4,42,723.00 4. The learned counsel for the petitioner contends that the proposal for one time settlement was not honoured and, therefore, the respondent is liable to pay a further sum of Rs.1,25,674/-. 5. It is case of the respondent that the said amount of Rs.1,25,674/- is not payable by them and in their reply notices dated 16.4.2009 and 17.4.2009, the respondent has categorically stated that they are not liable to pay any further sum to the petitioner. 6. After making payments as above, when the claim made by the petitioner for further amount is seriously disputed by the respondent, the question of invoking the jurisdiction of the Company Court does not arise. In view of the above, this company petition is dismissed. However, this order shall not preclude the petitioner from initiating proceedings for recovery of money in the manner known to law, if so advised.