AI Drafter 
TaxTMI 
TaxTMI 
2020 (4) TMI 605
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....e as follows; The Applicant contends that the Corporate Debtor approached the operational creditor for the supply of material for roofing etc., carpet export mart, BIDA Carpet City, Bhadohi, UP, and accordingly issued the purchase order No. 37 dated 18th October 2016. Under the said purchase order, the Applicant supplied the materials at the said site as per terms of the purchase order, and further invoices were raised by the Applicant/operational creditor. 3. The Applicant further contends that after the work, various invoices totalling to Rs. 1,66,57,721.95 were raised and delivered to the corporate debtor, which were duly received without any complaint or dispute concerning the goods. The corporate debtor had issued a certificate to that effect confirming the execution of job for an amount of Rs. 1,66,57,000; part payment was also made and leaving a balance of Rs. 2,826,817. 95 only. 4. The Operational Creditor, on several occasions, requested the corporate debtor to make the payment of the outstanding amount of Rs.28,26,817.95 only towards the principal amount, along with interest to the operational creditor. 5. The corporate debtor vide email dated 27th February 20....
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....19. The said Ashish Gupta never communicated or informed the company or the management of the said court notice. The company and its management were unaware of the insolvency proceedings against the company. 13. It is stated that the company is not insolvent, and it was only on account of the temporary cash crunch, and due to cash flow problems, the dues of the Respondent could not be settled. 14. The Appellant has admitted that the Respondents raised various invoices totalling to Rs. 1,66,57,000/- against the company and has admittedly paid to the Respondent an amount of Rs. 1,38,30,182/-. As regard to the remaining balance of Rs. 28,26,817.95, there were quality issues regarding the materials and the Respondent was aware of the same. The company had issued a debit note of the Rs. 10,94,204/- on the Respondent on account of the quality issue. The parties have been in extensive correspondence regarding the quality issue. But the payment remains outstanding due to the temporary cash crunch. 15. The Appellant further contends that the Corporate Debtor has always been ready to settle the debt and not shying away from the liability of the company and has already paid an amount....
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....the demand notice sent through registered AD was received by the Corporate Debtor on 02nd June 2018, which is clear from the tracking report filed along with the written submissions of the Operational Creditor. 20. In the circumstances, it is clear that the Corporate Debtor failed to make the payment despite service of the demand notice issued under Form 3 of the Insolvency and Bankruptcy (Application to Adjudicating Authority Rules, 2016). The Corporate Debtor neither made the payment nor sent any notice of dispute and the alleged outstanding amount of more than Rs.1,00,000/- (Rupees one lac). There is sufficient evidence on record to prove the amount due and payable against the Corporate Debtor in the circumstances. 21. In the circumstances stated above, we are of the considered opinion that the service of the demand notice on the corporate debtor was proper. Despite service of notice under Section 8(1) of the I & B Code, 2016 the Corporate Debtor neither made the payment not raised any dispute of the outstanding amount. The Appellant has admitted that the Court notice was received by its employee Ashish Gupta on 17th August 2019, but he left the organisation on 03rd Oct....
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....Thanks & Regards NITA SHELAR Kemark Payment against Material Supplied Payment scinas Installation ROOFS &CEILINGS (1) PUT LTD. GANDNI CHAYYA, OFF SARVODAYA HOSPITAL LMS MARG, GHATKOPAR (W) MUMBAI-400080 From: Nita [mailto:[email protected]] Sent: Thursday, April 19, 2018 5:33 PM To: 'Dugal Associates; purchasedusalassos CC accounts. [email protected]'; '[email protected]; ddduga associates.com; [email protected]; veninder [email protected]: 'neata proofsanaceings.com; ya Makwane, 'neresh'; Nanadh Gandhi: Shrenik Gandhi Subject: RE: Request to release payment For Carpet Markat Bhadohi. REMINDER-1 Dear Sir Please find the attached statement for outstanding payment. We are in process of closing of Accounts for the year ended 31-3-2015.Request you to send your Ledger for Balance conformation for the year 2017-10. As we are continuously following up for our outstanding paymeat but nothing any positive reply attached harewich outstanding statement along with interest. Request you to release our outstanding payment of Rs.85.39.805.52/-(Principal Interest Amount) without any f....