TMI Blog2020 (6) TMI 768X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner had been receiving the dues from supply of goods, and has a running account with the Corporate Debtor, and default has occurred against some invoices. The Respondent has not accepted the debt and the amounts claimed but accepts that after reconciliation, if any amount is payable, it will pay the same. The Petitioner has therefore come before this Tribunal for the recovery of its unpaid invoices, which also are disputed by the Respondent. This Tribunal cannot be used for recovery of debt. Further no case has been made out that the Respondent has become insolvent and has lost its substratum such that it is unable to be pay its debts or run its business. Application disposed off. - C.P. (IB) No.08/BB/2020 - - - Dated:- 19-6-2020 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent started defaulting in paying the invoice amounts in the year 2017. The total principal amount due and payable from the Respondent is ₹ 9,15,107/- (Rupees Nine Lakh Fifteen Thousand One Hundred and Seven only). Copies of the invoices along with purchase orders are annexed to the Petition. (2) It is submitted by the Petitioner that the Respondent has admitted its liability to repay a sum of ₹ 7,76,681/- vide email dated 17.07.2018. (3) The Petitioner submitted that the Respondent kept assuring the Petitioner that payments will be done. However, the Respondent failed to make the payments. The Petitioner issued Demand Notice under section 8 of the Code, 2016 on 19.06.2019 demanding payment of ₹ 12,75,316/- b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould get similar materials at a much lesser price. 4. Heard Shri Hitesh Kumar, learned Counsel for the Petitioner and Shri.Y. V. Prakash, learned Counsel for the Respondent through Video Conference. We have carefully perused the pleadings of both the parties and extant provisions of the Code and the Rules made thereunder. 5. On perusal of the Petition, it is seen that the claim is of ₹ 12,75,316/- including interest on principal sum of ₹ 9,15,107/- in respect of dues arising out non-payment of the invoice amounts annexed to the Petition. These invoices are raised against supply of plumbing goods by the Petitioner. A perusal of the statement of objections along with the Bank Statement of the Respondent shows that payments o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eed. 7. Inthe present case, it is seen from a perusal of the Bank Statement annexed by the Respondent that the Petitioner had been receiving the dues from supply of goods, and has a running account with the Corporate Debtor, and default has occurred against some invoices. The Respondent has not accepted the debt and the amounts claimed but accepts that after reconciliation, if any amount is payable, it will pay the same. The Petitioner has therefore come before this Tribunal for the recovery of its unpaid invoices, which also are disputed by the Respondent. This Tribunal cannot be used for recovery of debt. Further no case has been made out that the Respondent has become insolvent and has lost its substratum such that it is unable to be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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