2020 (10) TMI 440

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....ate Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Nitesh Housing Developers Private Limited('Respondent/Corporate Debtor') on the ground that it has committed default for an amount of Rs. 11,15,064.09/-(Rupees Eleven Lakh Fifteen Thousand sixty four and nine paisa only). 2. The Petitioner M/s. Truemix Concrete (India) Private Limited is a company incorporated under Companies Act 1956 bearing CIN No. U74999KA2017PTC105935. The Company is engaged in the business of designing, producing and supplying high quality ready mix concrete of different grades. 3. M/s. Nitesh Housing Developers Private Limited, the Corporate Debtor, is a company incorporated on 04.12.2007 under the Companies Act, 1956 bearing CIN No. U4520....

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....d that the Petitioner expressed its readiness to settle the issue. However, the Respondent is only offering only Rs. Eight lakhs out of claimed amount of Rs. 11,15,064.09 and thus insisted total amount to be paid. 7. Ms. Desiree Pais, learned Counsel for the Respondent submits that even though there is a dispute to the claim made by the Petitioner, they are ready to settle the issue, in order to avoid further litigation. Therefore, the Respondent has given post dated cheque dated 15.03.2020 drawn on Bank of Baroda bearing Cheque No. 000914 for a sum of Rs. 8,00,000/- (Rupees Eight Lakhs only)in the name of petitioner, as full and final settlement claim made in the petition. 8. It is a settled position of law that the provisions of Code ca....

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....tion. The claim relates to the period 1 April, 2017 to 16th May, 2019 covering about 18 invoices. The petitioner has not produced any Purchase order/Contract issued by the Respondent in support of supply of goods in question but produced invoices along Petition. At bottom of invoices, there is un-signed declaration by declaring that @ 18 % Per annum shall be charged if payment is delayed beyond 30 days from the date of supply or Credit terms agreed up on in writing. However, the Petitioner has not produced any evidence in support of supply of goods in question or Credit terms in question. The Petitioner has filed a copy of statement at Document No. 24, which is stated to have attached to the legal notice dated 23rd January, 2019, wherein it....