Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2018 (9) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (9) TMI 524 - Tri - Insolvency and BankruptcyCorporate insolvency process - neither the Petitioner nor the respondent has obtained the Product Acceptance of BSNL - Held that:- The tribunal observes that the offer from the petitioner has no stipulation regarding the acceptance of the equipment by BSNL or any other third party. However, the purchase order of the respondent dated 13.09.2010 Page no.84 Annexure D mentions a condition which is as under: “Payment Terms: 90 days from the date of Delivery Acceptance by BSNL.” This constitutes a counter offer and the petitioner has implicitly accepted it by making delivery of the equipment in terms of the above purchase order. In view of this, the petitioner at this juncture cannot claim that he is no way concerned with the acceptance or otherwise of the installed equipment in the premises of BSNL. Tribunal further observes that by making the supply to the Respondent, the Petitioner Company has given implied consent to the counter offer made by the respondent. In this case, neither the Petitioner nor the respondent has obtained the Product Acceptance of BSNL and hence has not fulfilled the condition required. Thus the petition filed by the Operational Creditor under section 9 Rule 6 of the IBC, 2016 at this point of time is premature and is liable to be dismissed. The Tribunal further clarifies that the right of the operational creditor to approach this forum under Section 9 of IBC is unaffected if and when the respondent does not make any payment within a period of 90 days from the date of delivery of acceptance by BSNL.
|