2019 (3) TMI 878

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....us specifications to the Corporate Debtor in terms of the purchase order dated 17.10.2016 placed by them. It is submitted that no dispute was ever raised with respect to the quality of the goods supplied or non-adherence to the specifications as per the Corporate Debtor's requirement. The Operational Creditor is aggrieved by the non-payment of Rs. 34,33,750/- under three invoices raised in October 2016. Despite repeated request and reminders, the Corporate Debtor, who is involved in development of various Real Estate Projects, has failed to take any steps for liquidating the outstanding liability. 2. In view of the lack of response from the Corporate Debtor, the Operational Creditor, after issuance of the demand notice under Section 8 of t....

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....nsistently less than what was reflected in the invoices. This exercise would result in recovery of money from the Operational Creditor. 4. On hearing the arguments advanced by both the Ld. Counsels and perusal of the documents on record, we find that there is no dispute which has been raised with the Operational Creditor in this respect. We note that the supplies under the 3 invoices were made in the year 2016. Surprisingly, there is not even an iota of correspondence on record to lay the shortfall at the doorstep of the Operational Creditor. What has been brought to our notice is an FIR which has been filed against the transporter. Ld. Counsel for the Corporate Debtor submits that the goods having booked by the Operational Creditor with t....

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....rein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. Further, (2) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sect....