TMI Blog2021 (1) TMI 512X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent had meetings with the Operational Creditor in Mumbai and Banswara, where the complaints regarding the quality of the goods supplied by the operational creditor were made by the Respondent. Also arrangement regarding payment of outstanding debt was made where the Applicant would waive the amount of ₹ 33,00,000/- out of the total of ₹ 83,00,000/- and it was also discussed that the balance overdue amount of ₹ 50,00,000/- would be settled. It is evident from the WhatsApp Communications between the Applicant and the Corporate Debtor held on date 31.07.2018 and 27.08.2018 that above arrangement was made between the parties in relation to clearance of outstanding debt. The Applicant in the WhatsApp communication be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness of manufacturing Textile Fabric. ii. The Respondent used to issue purchase orders to the Applicant and in return the Applicant supplied the goods according to the purchase orders and invoices were raised for the same. iii. The Respondent used to give ad-hoc payments to the Applicant and the last payment made by the Respondent was on 27.02.2018. The Applicant submits that it has sent several reminder e-mails to the Respondent stating that payment of ₹ 83,58,321/- is pending. iv. The Applicant sent demand notice under section 8 of IBC, 2016 to the Respondent demanding the outstanding amount of ₹ 93,89,378/- on 27.08.2018. The Respondent replied to the notice on 13.09.2018, stating that the goods supplied by the Appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ard raw material. v. The Respondent also stated that it was mutually agreed between the Applicant and the Respondent that the Applicant shall waive the amount of ₹ 33,00,000/- out of the total of ₹ 83,00,000/- and it was also discussed that the balance overdue amount of ₹ 50,00,000/- would be settled in the following manner: a. ₹ 25,00,000/- as further discount from the balance amount of ₹ 40,00,000/- b. Balance of ₹ 25,00,000/- would be adjusted by deducting 5% amount from the subsequent bills of the Applicant. vi. That there was further communication through WhatsApp between the Applicant and the Respondent on 31.07.2018 and 27.08.2018 wherein the Applicant admitted the discount on acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ited and the order of Hon'ble NCLAT in the matter of Bhandari Hosiery Exports Ltd. vs IN-TIME Garments Pvt. Ltd. iv. The Respondent further cites the order of Hon ble NCLAT in matter of Nayan Shah vs Viral Rajarashi Mehta Anr, and the order of Hon ble NCLT in the matter of Synergy Marketing INC vs. Siddharth intercrafts Pvt. Ltd 5. We have gone through the documents filed by both the parties and heard the argument-s made by the counsels. The Operational Creditor had supplied the goods. The Operational Creditor has claimed an amount of ₹ 93,89,378/- as an outstanding operational debt from the Corporate Debtor. 6. From the perusal of the reply filed by the Corporate Debtor it is clear that the Respondent has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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