TMI Blog2021 (5) TMI 544X X X X Extracts X X X X X X X X Extracts X X X X ..... he 'debt' as claimed by Operational Creditor is towards carton boxes and other packing material supplied by Operational Creditor along with purchase orders of the year 2016-2017. The packing materials are also perishable. Further, the onus of, who has to take back the unused materials, whether the same is adjusted towards payment are not clear. The applicant has failed to quantify the alleged 'debt' and the 'date of default'. Neither debt nor default is proved - Petition dismissed. - CP/862/IB/2018 - - - Dated:- 27-4-2021 - Sucharitha R., Member (J) and Anil Kumar B., Member (T) For the Appellant : K.K. Murralitharan, Advocate For the Respondents : A.K. Balaji and S. Nithya, Advocates ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount of ₹ 9,77,840/- on 05.04.2017 and ₹ 14,66,760/- on 24.04.2017 in favour of the Corporate Debtor. After receiving amount from the Operational Creditor, the Corporate Debtor quoted huge rate for cans with pulp exceeding the prevailing market rate and hence the Operational Creditor through e-mail dated 07.09.2017 sought for return of the equivalent amount of the Cans and Cartons amounting to ₹ 15,71,056.88 and also sent bank details to show no remittance of amounts by the Corporate Debtor. Despite admitting outstanding amount, the Corporate Debtor failed to clear outstanding operational debt. On 13.10.2017, the operational creditor sent demand notice demanding payment of outstanding debt and the same was delivered to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Debtor Company faced huge financial crisis. 6. Further submitted that, it is not true that the goods supplied by the Corporate Debtor is of old materials and hence the payments were delayed by the Operational Creditor. 7. Thereafter, the learned counsel for the Corporate Debtor filed the additional counter on 16.10.2018, the Corporate Debtor enclosed auditor's report dated 05.10.2018 to show that the Company had to pay Tax and Penalty as the Operational Creditor did not furnish Form-H. 8. Heard both the parties and perused documents placed before this Adjudicating Authority. It is seen that there was business dealing between both the parties. The nature of goods being perishable commodity, slightest delay shall cause huge lo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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