TaxTMI 
TaxTMI 
TaxTMI 
2020 (7) TMI 323
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..... Bhagabhai Kantilal Patel. 3. The Respondent/ Corporate Debtor, namely Gujarat Machinery Private Limited was incorporated on 05.12.2008 with CIN: U29190GJ2008PTC055614. The authorised capital of the company is INR. and the paid-up capital is INR. 15,00,000.00 and the paid-up capital is INR 1,00,000.00. The registered office of the Corporate Debtor Company is situated at: Plot No. 524, G.I.D.C., Phase-Il, Vatva, Ahmedabad, Gujarat-382 445. It is submitted that the Operational Creditor is the supplier of miscellaneous machinery parts and had provided the service of repairing barrels, deep hole and honing etc. whereas the Corporate Debtor is involved in manufacture of general purpose machinery, manufactures Extrusion Tape Stretching Plants, Lamination Plant etc. 5. It is submitted that the Operational Creditor had supplied machinery parts to Corporate Debtor and raised several invoices for which the default is made i.e., from 30/05/2014 till 28/05/2016. 6. It is submitted by the Petitioner that the Corporate Debtor is liable to pay to the Operational Creditor a total sum of INR. 11, 18,530.00 including an amount of INR. 5,22,837.00 being the interest@ 24% per annum as per the ter....
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....later they will clear their dues positively. At the same time the Corporate Debtor had transferred the amount of INR dated 22/03/2016 drawn from Kotak Mahindra Bank and provided assurance to clear the remaining outstanding dues on priority basis, but the said outstanding dues remain unpaid till date. 9. Now, the Petition is filed on 26.11.2018 under the Section 9 of the Insolvency and Bankruptcy Code, 2016 for the unpaid Operational Debt due of INR. 11,18,530.00 10. The Operational Creditor has suggested the name of Interim Resolution Professional, Mr. CA Kedar Ramratan Laddha, having Insolvency Professional Registration No. IBBI/IPA-001/IP-P00586/2017- No.079-66653333, (0091) 9737533000, Address: B- 1002, 10th Floor, Mondeal Square, Nr. Prahaladnagar Garden, Opp. Honest Restaurant, S.G. Highway, Ahmedabad-380015 (Gujarat) India as an Interim Resolution Professional. 11. The case was taken up by this Adjudicating Authority on 03.01.2019, however, none appeared on behalf of the Corporate Debtor. The matter was adjourned to 15.02.2019, with directions to the Registry to serve the notice of date of hearing on the Respondent along with the copy of the order under acknowledgement. Th....
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....he petitioner do not bear seal or signature of the respondent company. The petitioner is called upon to produce on record in which manner the goods were delivered to the respondent. 12.6 It is stated that the documents on record that few copies of the delivery challans do not bear any address whereas in few copies of the invoices the address mentioned is different from the address of the respondent. 12.7 It is stated by the respondent that the true facts are that the respondent has supplied raw material of Alloy steel Round bars namely EN41B, EN24, EN19 etc., Mild steel Flages to the petitioner. As per the Understanding between the petitioner and the respondent that the petitioner was required to process the said raw material and after processing the same, the petitioner was required to send the processed material back as well as the residual of the raw material along with the metal scrap generated during the labour process to the respondent. The copies of the receipts/ documents showing the raw materials were supplied to the petitioner company are in the custody of the excise department. The respondent is in the process of filing application for taking certified copies of the ....
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....ndent. 12.13 It is stated that the Respondent had replied to the demand notice dated 12/09/2018 sent by the Applicant vide email dated 22/09/2018. The respondent had denied the claim of the applicant. 12.14 The respondent states that the application filed by the applicant is not maintainable as there exists a genuine dispute between the parties. 13. The Petitioner has submitted their written submissions on 04.11.2019. 13.1 It is submitted that the petitioner is an engineering firm engaged in providing engineering services to its customer. The Respondent, from time to time, since the year 2008, have been sending material to the Petitioner for "honing" services i.e. drilling the thick iron rods/bars and doing fine finishing in internal diameter. The Petitioner used to charge for such "honing" services rendered to the Respondent with its engineering machineries and technical expertise. 13.2 It is pertinent to note that there is no dispute as to quality of the services provided by the petitioner. The record shows that the Petitioner used raise bills for its engineering services done on the material supplied by the Respondent, and the Respondent used to make payments thereof fr....
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.... submission is startling and prima facie not sustainable. If the respondent had supplied material and if the petitioner has not at all returned the material after doing job work on it and still claimed charges for the same, the respondent would have called upon the petitioner to return the material. Even in its reply to the Demand Notice the respondent did not say that it has not received back its material. This itself shows that the respondent's defense is false and baseless. 13.8 As mentioned hereinabove, the respondent has never disputed the quality of job-work done by the petitioner. There is no existing dispute on record. The respondent's claim that all invoices and delivery challans produced by the petitioner are fake and fabricated, is not sustainable in the eyes of law. 13.9 It is reiterated that there is nothing on record to show that there was any pre-existing dispute between the parties. There is no suit or arbitration pending between the parties. There is not a single piece of paper to show that there is any dispute between the parties. 13.10 Lastly, it is submitted that the present petition is complete all respects. The present petition is filed within li....