TMI Blog2020 (12) TMI 1253X X X X Extracts X X X X X X X X Extracts X X X X ..... aim of the Operational Creditor that date of Invoice and number of Invoice could not matched. Even, otherwise, the supply has been made in the month of July 2015, as stated earlier, and the application has been filed on July 18, 2019, hence, aspect of limitation is to be seen. No material has been brought on record to show that name of the Corporate Debtor has been changed. In view of the fact that the Corporate Debtor has attached its Annual report for 2018-19 in the name and style of M/S, Girdharilal Sugar and Allied Industries Limited, the name of the Corporate Debtor remained the same, Therefore, the said payment could not be said to have been made by the Corporate Debtor. Even otherwise a paltry payment, assuming to have been made b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2015. The Learned Counsel submitted that two sales counters were maintained and because of that it happened. Learned Counsel drawn our attention to Form-3 duly served on the Corporate Debtor. It was also brought to our notice that no dispute, had been raised and only plea which was taken by the Corporate Debtor was that they had discontinued this business and they could not pay the outstanding amount due to financial constraints. 3) Learned Counsel for the Corporate Debtor appeared and pleaded that there are financial constraints and, hence, the amount could not be paid. It was also brought out to our notice that recovery proceedings by the Financial Creditor were also taken. 4) We have considered submissions made on behalf of both t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt, assuming to have been made by the Corporate Debtor, cannot extend the limitation period for all debts as each supply is an independent contract. The said petition is, therefore, not maintainable. Accordingly, the same is dismissed on the ground of limitation as well as on merit on consideration of facts regarding authenticity and validity of the Invoices so raised. In the result, application under Section 9 stands dismissed and disposed of accordingly. 6) The Registry is directed to communicate a copy of this order to the Operational Creditor, Corporate Debtor after completion of necessary formalities, within seven working days and upload the same on website immediately after pronouncement of the order. - - TaxTMI - TMITax - Ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
