TMI Blog2019 (3) TMI 1522X X X X Extracts X X X X X X X X Extracts X X X X ..... ehalf of the Appellant submits that the Appellant is ready to settle the matter with the ‘Operational Creditor’. However, even after such settlement, we cannot set aside the impugned order to give any relief to the ‘Corporate Debtor’. In fact, the appeal at the instance ‘Corporate Debtor’- ‘AP Coated Drums and Barrels Pvt. Ltd.’ is not maintainable in the light of the decision of “Innoventive Industries Limited” [2017 (9) TMI 58 - SUPREME COURT OF INDIA]. While no relief can be granted in this appeal, make it clear that this order will not come in the way of any other person to move an appropriate application before the ‘Committee of Creditors’ under Section 12 A of the ‘I&B Code’ for appropriate relief. - Company Appeal (AT) (Insolven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CR Sheet to the Corporate Debtor on 30th November, 2014, remained partly unpaid. The outstanding amount against the invoices aggregates to ₹ 38,82,916/-. Out of which the aggregate amount of only ₹ 1,10,486/- was paid by the Corporate Debtor , leaving a balance to the principal amount of ₹ 37,72,430/-. 5. The case of the Operational Creditor was that the last payment of ₹ 10,00,000/- was paid on 15th and 18th September, 2017, thereby the application under Section 9 of the I B Code was within time. 6. The Corporate Debtor taken plea that the VAT amounting to ₹ 18,01,726/- is to be adjusted. On the other hand, the Operational Creditor had taken plea that VAT confirmation Certificate on entire am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of set off after determining the claim or counter claim cannot be decided by the Adjudicating Authority. 9. The Adjudicating Authority having noticed that there is debt payable which is more than ₹ 1,00,000/- and in absence of any existence of dispute rightly admitted the application under Section 9 of the I B Code . 10. At this stage, learned counsel appearing on behalf of the Appellant submits that the Appellant is ready to settle the matter with the Operational Creditor . However, even after such settlement, we cannot set aside the impugned order to give any relief to the Corporate Debtor . 11. In fact, the appeal at the instance Corporate Debtor - AP Coated Drums and Barrels Pvt. Ltd. is not maintainable in the lig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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