9911796707
TMI Blog2019 (8) TMI 1471X X X X Extracts X X X X X X X X Extracts X X X X ..... Mascot Petrochem Private Limited, the Operational Creditor herein, against Midaas Construction Company Private Limited, the Corporate Debtor herein, for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for default in payment of outstanding debt. The amount claimed in default stands at Rs. 26, 19,417.50 (Rupees twenty-six lakh nineteen thousand four hundred and seventeen and fifty paisa fifty only) which comprises of pre-amount of Rs. 14,03,921.50 (Rupees fourteen lakh three thousand nine hundred twenty one and paise fifty only) and interest of Rs. 12, 15,496.00 (Rupees twelve lakh fifteen thousand four hundred ninety six only). The date of default has been claimed to be the dates when the invoices were due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r attention to the reply made by the Corporate Debtor in response to Notice of Demand issued by the Operational Creditor. He referred to paragraph 2 to state that Rs. 2, 17,438/- (Rupees two lakh seventeen thousand four hundred thirty eight only) was payable as per Books of Account of the Corporate Debtor was paid through cheque which was attached with the reply. The Ld. Counsel then specifically drew our attention to the contents of Invoice-cum-challan bearing No. MPPL/ 062/16-17 dated 1st June 2016 and MPPL/405/15-16 dated 7th March 2016 to contend that goods mentioned in those invoices were never supplied and the Corporate Debtor in the said Notice requested the Operational Creditor to prove the delivery and receipt of the materials by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or at its own end and which was not accepted by the Corporate Debtor. 7. We have considered the submissions made by both the sides as well as perused the material on record. 8. It is noted that the materials have been claimed to be supplied since 2015. The last payment was made on April 10, 2017. There have been running transactions between the parties. The Operational Creditor, in aggregate, supplied material worth Rs. 48,76,136.00 as claimed by the Operational Creditor, out of which Rs. 34,72,214.00 have been paid by Corporate Debtor. The Operational Creditor delivered notice on 10th October 2018 against which a reply was submitted by Corporate Debtor on 18th October 2018, partly accepting a liability for Rs. 2,17,438.OO and denied the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owledging the supply of material issued by the Corporate Debtor has been enclosed. 9. Thus, based upon the fact narrated above, it appears that there are certain discrepancies in the documents produced in regard to the claim made by the Operational Creditor. It is further to be noted that Operational Creditor has filed the petition under section 9 in December 2018 whereas last payment had been received in April 2017 and in all the correspondences in between the parties no correspondence on behalf of the Operational Creditor has been brought on record to show that the Operational Creditor communicated to the Corporate Debtor regarding amount payable by Corporate Debtor in respect of such invoices. On the contrary, the Corporate Debtor, base ..... X X X X Extracts X X X X X X X X Extracts X X X X
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