Pelwatte in debt, petition to wind up company
View(s):Agstar Fertilizers Plc has filed action in the Colombo High Court seeking the winding up of Pelwatte Sugar Industries over the non-payment of dues.
In its action filed recently, the petitioner states that Pelwatte owes the Agstar over Rs 18 million in unpaid bills.
Agstar is a company dealing in fertilizer imports and sales while Pelwatte, a sugar producing company, was acquired by the state late last year.
“The petitioner is a creditor of the company (Pelwatte) to whom monies are payable by the company on account of goods supplied and sold and delivered,” it said.
Three cheques sent to the petitioner by Pelwatte bounced. The dues total Rs 18.4 million.
The petition said Pelwatte is unable to pay its debts and thus should be wound-up under provisions of the Companies Act No. 07 of 2007.
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