2019 (7) TMI 1569

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rational Creditor is engaged in the business of construction and was awarded a contract by the Corporate Debtor to undertake civil construction of their project PAN OASIS at Sector 70 Noida. Four work orders were awarded to the Operational Creditor between January 2010 and January 2014 pursuant: to which the work was executed. The Corporate Debtor made part payment of the running bills raised and deducted TDS as per their statutory obligation which has been duly reflected in Form 26AS of the Operational Creditor. 2. It is submitted by the Operational Creditor that Rs. 16,83,03,963/- has been paid by the Corporate Debtor including TDS, WCT, payments through cheques and RTGS. The Operational Creditor has claimed a sum of Rs. 2,41,58, 130/-....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ade by the Operational Creditor was disputed even prior to the issuance of the demand notice. Reliance is placed on various emails. Vide an email communication dated 24th October, 2018, the Corporate Debtor negated the liability towards the claims. This email is being reproduced as under: - "From: - Rahul Rajvanshi, Dear Prashant, With reference to trailing mail regarding updated payment to you (M/S. Ved Contracts), confirmation is still pending, please do the needful on priority basis. Further, you have shared a statement "Claim PAN 3.10.2018 " without references and supporting documents, it seems to be totally baseless, please submit your claim with the consideration of work order's Terms & Conditio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....m. There are other mails which point out various discrepancies raised prior to the issuance of the demand notice dated 05.01.2019. 9. It is further submitted that as per their accounts, the Corporate Debtor needs to recover Rs. 1,05,63,976/- from the Operational Creditor. Ld. counsel for the Corporate Debtor has also argued that in view of the dispute raised with respect of reconciliation of the accounts, the same can only be adjudicated through arbitration in terms of their agreement and it is beyond the scope and jurisdiction of this Bench to look into the same. 10. Rebutting the submissions of Id. counsel for the Operational Creditor that there is still a huge outstanding liability even if the proposed deductions of the Corporate D....