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2021 (12) TMI 6 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - service of demand notice - HELD THAT:- This bench notes that the Corporate has filed the reply claiming that the Petitioner has supplied excess quantities as against the purchase orders issued by the Corporate Debtor. The Corporate Debtor also pointed out that the Petitioner supplied defective and inferior quality of Pet Bottles and Hope Buckets which damaged the product and thus the Corporate Debtor suffered financial loss of more than ₹ 30 lakhs. The Corporate Debtor claimed the Petitioner have refused to take back the excess quantities of Pet Bottles and Hope Buckets. The Corporate Debtor pointed out that in the month of April 2019 at the request of the Petitioner, they supplied goods amounting to ₹ 8,85,295/- to an associate company of the Petitioner namely Max Indo Private Limited and claimed that an entry to that effect to the ledger account statement on 26.04.2019 which establishes that the amount were paid to Max Indo Private Limited and Grow Max India Private Limited. The Corporate Debtor has not filed any proof of objection raised with regard to excess supply of quantities of Pet Bottles and Hope Buckets prior to the initiation of section 8 Demand Notice - It is undisputed fact that the Pet Bottles and Hope Buckets were delivered to the Corporate Debtor and the invoices raised remain unpaid. The Corporate Debtor has not demonstrated that any dispute with regard to excess supply of goods/inferior quality was raised prior to the issuance of demand notice. Hence, there is a clear liability of payment of amount due under the invoices and default of non-payment of such dues by the Corporate Debtor, Petition is admitted. Petition admitted - moratorium declared.
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