TMI Blog2021 (3) TMI 869X X X X Extracts X X X X X X X X Extracts X X X X ..... o filed criminal complaint in respect of the disputed acknowledgment. Without the said acknowledgement of account, the claim of applicant will be barred by limitation as the invoices were raised between April 2016 to August 2016 and the present petition was filed in November 2019. A person can file complaint of fraud or forgery only after knowing about the said fraudulent act. In the present matter the complaint has been filed after receiving the disputed acknowledgment of accounts. Therefore, till the outcome of the pending complaint, the claim of applicant remains disputed. A financial/operational creditor will have to be vigilant while initiating proceedings under the Code and ensure that application is within 3 years from the date of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rational Creditor supplied the Wheat Straws and raised 3 invoices in the name of proprietorship concern, however, the Corporate Debtor failed and neglected to pay the entire amounts under 3 invoices in question, issued by Operational Creditor. It is stated that as per the agreed conditions of payment for the supplies, the Operational Creditor/Applicant is entitled to charge interest @ 24% quarterly compounding 7 (seven) days after the delivery of the goods. ii. It is submitted that as on 31.12.2018, outstanding amount under the 3 invoices are ₹ 35,71,097/- towards principal and ₹ 24,62, 197/- towards interest calculated @ 24% compounded quarterly, thereby, aggregating to ₹ 60,33,294/-. That when the Operational Credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mention the reason of non-mentioning of date of default as the date of default is 10.09.2016 and the alleged claim of applicant is time barred and due to which reason also the present application is not at all maintainable. Further, the applicant had tried to get the limitation renewed on the basis of mere acknowledgment of a junior clerk which document itself is under challenge due to following reasons: a) The name of the Company i.e., Corporate-debtor is wrongly written as Silvertoan Paper Mills Ltd. in place of Silvertoan Papers Limited . b) The acknowledgment had been shown by a junior clerk named as Deopal while acknowledgment is fabricated with the signature mentioned as Devpal . c) The said fabricated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Papers Limited , the acknowledgement had been shown to the signed by a junior clerk named as Deopal while the acknowledgment is fabricated with the signature mentioned as Devpal and the said fabricated acknowledgement is under protest in criminal case no. 236/11 of 2020 in the district Court of Muzaffarnagar. In respect of issues pertaining to vehicle number on which material was supplied it is submitted that the material wheat straw was mostly supplied by the local farmers in bullock carts and sometimes on the local assembled vehicles due to which the vehicle numbers may not be correctly appropriated and admittedly the vehicle numbers mentioned in the applicant's invoice and/ or the challans can be similarly categorized as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e disputed claims made by the parties. 7. Respondent has also filed criminal complaint in respect of the disputed acknowledgment. Without the said acknowledgement of account, the claim of applicant will be barred by limitation as the invoices were raised between April 2016 to August 2016 and the present petition was filed in November 2019. A person can file complaint of fraud or forgery only after knowing about the said fraudulent act. In the present matter the complaint has been filed after receiving the disputed acknowledgment of accounts. Therefore, till the outcome of the pending complaint, the claim of applicant remains disputed. 8. The Hon'ble NCLAT in the case of Ishrat Ali Vs. Cosmos Cooperative Bank Ltd. Anr h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... benefit of the provisions of the Limitation Act, which provide for a fresh period of limitation to run/exclusion of time in computing limitation. The same rule shall apply for the operational creditor as well as per the judgement passed by the Hon'ble Supreme Court. 12. That apart the respondent has placed copies of invoices for re-supply of materials in place of defective materials. The said invoices have been disputed by the applicant in its rejoinder. Therefore, there exist various questions which require a proper adjudication in order to ascertain the claim of applicant. 13. For the reasons stated above the application fails and therefore the same is dismissed as barred by limitation. 14. 1t is made clear that any o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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