TMI Blog2021 (3) TMI 1277X X X X Extracts X X X X X X X X Extracts X X X X ..... eived from the Corporate Debtor on 17.05.2017 was already adjusted towards dues and therefore only the balance amount is claimed in the application. The petitioner in the application has claimed LB % as the interest per annum though he is not entitled to any interest. The petitioner has failed to satisfy this Adjudicating Authority on the total amount due and payable. It is clearly a time barred debt. Since, the period of the invoices is from the date 19.05.2015 to 09.12.2016 and 16 out of 17 invoices filed by the petitioner are clearly time barred the argument of the Ld. Counsel for the petitioner on the issue of limitation that Rupees two lakh has been received on 17.05.2017 is negated. As per the judgement of the Hon'ble High Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submits that the entire account between the Corporate Debtor and the petitioner was running account. Hence, out of various supplies made by the petitioner, the said 17 invoices enclosed along with this application, are due and payable. In support of the claim, petitioner has also filed Bank Statements at page No. 124 and at Page No. 166 of the application. The Bank Statements at Page No. 124 is for the period from 15.05.2017 to 29.05.2017 . The Ld. Counsel for the respondent states that this application is filed by the proprietary concern and this is well settled principle of law that this application by the proprietary concern is not maintainable under IBC. Second Defence taken by the Ld. Counsel for the respondent is that the document ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the said Rupees two lakh payment received from the Corporate Debtor is not towards the outstanding in of those 17 invoices referred to and filed along with the application. The Rs. two lakh payment was made towards various other payments pending between the petitioner and the respondent. Ld. Counsel for the petitioner relied upon the Bank Statement enclosed at Page Nos. 124 and 166 of the application. From the perusal of the Bank Statements, this is clear that Bank Statement for the period from 05.05.2017 to 29.05.2017 and 25.02.2019 to 16.10.2019 only have been filed in the support of the claim. The invoices are from the period of 19.05.2015 to 09.12.2016 but no Bank Statements pertaining to this period have been enclosed along with t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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