TMI Blog2019 (10) TMI 1348X X X X Extracts X X X X X X X X Extracts X X X X ..... be dismissed. Petition dismissed. - C.P. (IB) No. 208/BB/2019 - - - Dated:- 14-10-2019 - Rajeswara Rao Vittanala, Member (J) And Dr. Ashok Kumar Mishra, Member (T) For the Appellant : Amaresha M. For the Respondents : Prashant Kammar and Naveen Samanth, (MD) ORDER Rajeswara Rao Vittanala, Member (J) 1. C.P.(IB) No. 208/BB/2019 is filed by M/s.Enkay Technologies (India) Private Limited (hereinafter referred to as 'Petitioner/Operational Creditor') under Section 9 of the IBC, 2016 R/w Rule 6 of the I B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process in respect of M/s.Ingersoll -Rand Climate Solutions Private Limited (hereinafter referred to as 'Respondent/Corporate Debtor') on the ground that it has committed default for total outstanding amount of ₹ 4,99,534/- (Rupees Four Lakhs Ninety Nine Thousand Five Hundred and Thirty Four Only) along with the interest at the rate of 18% per annum. 2. Brief facts of the case, which are mentioned in the Company Petition and are relevant to the issue in question, are as follows: (1) M/s.Enkay Technologies (India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sept 2016 HDFC/BGLR/43 4,20,140/- Total Received 13,69,924/- Taking into account the list of invoices and payments received thereon the aggregate principal sum due and payable by the Corporate Debtor is summarized as follows: Summary Total supply (A) 14,91,303/- Total Installation (B) 3,78,155/- Total Invoices 18,69,458/- (-) Less Payment Received 13,69,924/- Balance Due 4,99,534/- As per the ledger account of the Operational Creditor for the period 1st April 2014, to 31st March 2019, the Corporate Debtor owes a principal outstanding of ₹ 4,99,534/-. (4) It is also stated that the in their letter dated 14th February they detailed the list of invoices raised by them and the payments received from the Corporate Debtor and called upon the Corporate Debtor to pay the balance outstanding of ₹ 4,99,534 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 66 (hereinafter referred to as the Project Site). In pursuance to Purchase Orders, the Operational Creditor supplied the Electronic Security System materials contrary to the understanding arrived between the parties with regard to timeline for supply of the Electronic Security System at the project site and raised the invoice for a total sum of ₹ 14,91,303/-. The Corporate Debtor has made the payment of ₹ 14,56,953/- towards the supply of the Electronic Security System to the Operational Creditor as on the date of filing the instant petition. The Corporate Debtor has made the payment of ₹ 73,850/- towards the invoice No. 16-17/90011 dated 30.04.2016 on 7th June 2017 and has made the payment of ₹ 13,179/- towards the invoice No. 16-17/90019 dated 27.05.2016 on 5th January 2018. Despite making the said payments, the Operational Creditor has approached this Adjudicating Authority with concocted facts again claiming the said amount towards the supply of the Electronic Security System at the Project Site. (3) It is stated that as per the Purchase Order dated 15.10.2015, the Operational Creditor was supposed to supply the Electronic Security System materials ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons of the Code. 5. The case is listed for hearing on several dates viz. 03.06.2019, 12.06.2019, 27.06.2019, 11.07.2019, 17.07.2019, 05.08.2019, 23.08.2019, 27.08.2019, 29.08.2019, 06.09.2019, 18.09.2019, 30.09.2019 14.10.2019 in order to give opportunity to the parties to settle the issue in question since the amount involved is about ₹ 5 Lakhs, which is seriously disputed by the Respondent and it is a solvent Company having turnover of around ₹ 3,20,00,00,000/- (Rupees Three Hundred Twenty Crores Only) a year and around 600 employees are working with the Corporate Debtor. Therefore, Mr. Naveen Samanth Managing Director of Corporate Debtor was present before us deposed that though the materials supplied by the Petitioner were defective, the Corporate Debtor has paid a sum of ₹ 13,69,924/- which includes ₹ 3,78,155/- towards installation charges. In spite of several repeated requests, the Petitioner has not taken back the defective materials. However, in order to avoid litigation and to show respect to the Adjudicating Authority, he has produced DD bearing No. 107018, dated 27.09.2019 drawn on City Bank for an amount of ₹ 3,75,000/- and it was lat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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