9911796707
TMI Blog2017 (1) TMI 1344X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that the respondent-Company has failed to discharge its debts to the petitioner-Company to the extent of Rs. 85,25,816.32/- (Rupees Eighty-Five Lakh, Twenty-Five Thousand, Eight Hundred and Sixteen and Paise Thirty- Two only) vide their statutory legal notice under Sect ion 433 and 434 of the Act issued to the respondent-Company at Annexure-L dated 07.04.2015 . 2. The respondent-Company replied to the said statutory notice vide their reply at Annexure-N dated 25.04.2015 . Paragraphs B(iii) to (viii) of the said reply are extracted below for ready reference; "B. xxx xxx xxx iii. Based on the representations made by your Client, our Client placed a purchase order bearing No.LBI-PROC-PO-2011-322D dated 27.09.2011 on your Client for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tation of the milestones prescribed beyond the first year only for malafide reasons. vi. Your Client also suggested that our Client should take annual maintenance (the "AMC") of the Software which comes with various other updates. Your Client informed that they will complete the remaining two milestones at the earliest and suggested our Client that AMC will help our Client for effective usage of the Software in the future. vii. Based on the representations made by your Client, our Client raised a purchase order dated 18.03.2014 with your Client for AMC for three years. However, your Client did not come forward for completing the remaining two milestones for effective implementation of the Software as promised and due to non implementati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the petitioner-Company had earlier supplied a Software known as 'Wind Chill Software' to the respondent-Company under its Purchase Order dated 27.09.2011 as pointed out in paragraphs B(iii) to (viii) of its reply to the statutory notice, which are quoted-above and before complete execution of that contract in 4 (four) milestones over a period of one year, the main America n Supplier Company-PTC changed its Software technology and said that the said Software updates are not available and, therefore, the respondent-Company can take a fresh Contract of Annual Maintenance and on such representation being made by the said PTC-Company, the respondent-Company gave a Purchase Order dated 18.03.2014 for a period of three years. Even under the ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ' was also not completely implemented by the petitioner-Company and in the present case unilaterally the parent Company-PTC changed its software technology and insisted upon the respondent -Company to take-up fresh contract of AMC under which the parent Company-PTC was to supply the new Software to the respondent-Company including the responsibility of installing the same in the hardware of the respondent- Company at its business place. The supply of Code Keys by the petitioner-Company to the respondent-Company under Annexure-P e-mail dated 31.03.2014 may be a fact, but that does not amount to a complete execution of the said contract. The petitioner-Company cannot be allowed to wriggle out of its contractual obligation to install the said ..... X X X X Extracts X X X X X X X X Extracts X X X X
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