Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2021 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (1) TMI 387 - Tri - Insolvency and BankruptcyRecovery of Arrears by Invocation of Bank Guarantee - non-repair of transformers, which were under warrantee - additional cost incurred due to non-supply of transformers as per work order - HELD THAT:- Admittedly, out of total claim of ₹ 26,63,344/-, the Liquidator has accepted ₹ 12,13,371/- i.e. for non-repair of transformers, which were under warrantee, as the same is legitimate claim of the Applicant, subject to the approval of Adjudicating Authority - As regard the claim of ₹ 14,49,973/- is claimed against non-supply of transformers as per work order, which is already recovered by invocation of Bank Guarantee, however, the Applicant is further claiming additional cost, which is incurred by DGVCL due to non-supply of transformers as per work order. It is also admitted by the Applicant that he has already invoked the Bank Guarantee for ₹ 27,58,498/- for non-supply of transformers, therefore, another amount i.e. ₹ 14,49,973/- is unreasonable as the same is recovered from Bank Guarantee. The instant application is not maintainable and stands dismissed.
|