TaxTMI 
TaxTMI 
2020 (10) TMI 1068
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....Operational Creditor - Switching AVO Electro Power Ltd. filed application under Section 9 of Insolvency and Bankruptcy Code, 2016 (IBC In Short) before the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata in Company Petition (IB) No. 993/KB/2019). The Appellant claimed that the Appellant is in business of supply of UPS Power Storage Equipment and in ordinary course of business the Operational Creditor supplied UPS Power Storage to the Corporate Debtor. The Corporate Debtor made default in making payment of the balance of amount of Rs. 21,07,916/-. Counsel for the Appellant claims that as the amount was outstanding, Demand Notice under section 8 of I & B Code, 2016, copy of which is at page 67 was sent on 10th Ap....
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....Debtor there had been business of Rs. 8,30,45,885 /- out of which Rs. 8,09,37,969/- had already been paid. However, the Corporate Debtor defaulted in payment of outstanding bill of Rs. 21,07,916/- in spite of demands. It is argued that Bank Statement copy of which is at Page 72 shows that the Corporate Debtor had from time to time made various payments including payment against the invoice, copy of which is at page 84 of the Appeal Paper Book and the e-way bill is at Page 85. The Learned Counsel submits that there was no dispute raised by the Corporate Debtor before Section 8 Notice was sent and even the Reply to Section 8 Notice stated that they would verify but in spite of that, no follow up & no payment was made. The Learned Counsel subm....
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....g with the said Director Mr. Sudhir Kumar in Ld. NCLT. It is also stated that the screenshot at Annexure A-7 which is at page 48 of the Rejoinder does not show that actually GST was paid. It is argued that even if it is paid, there is procedure to get refund of the same. It is also argued that the Corporate Debtor is authorized dealer of Exide and the Appellant was competitor and thus false case was filed and the Adjudicating Authority has rightly dismissed the Application under Section 9. 4. We have gone through the Judgment of the Adjudicating Authority. The Adjudicating Authority took note of the internal disputes between the Directors, which particulars were placed before the Adjudicating Authority. The Adjudicating Authority in Para....
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....ations, the Adjudicating Authority referred to the format which was submitted and concluded that there were no such pleadings and also observed that there was no supporting evidence to prove that Corporate Debtor had placed orders for purchasing the goods referred to in the invoices. For such and other reason, the Application came to be rejected. 5. Having heard the Learned Counsel for both sides, we find that defence apparently shows that the Corporate Debtor had some disputes with one of the Directors and made allegations against the said director. The Appellant has filed copy of the Bank Statements which is at Page 72 and in ordinary course of business, there are various entries in the Bank Statement which show payments from the Corpo....
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....gh had supplied material on his own relationship guarantee then he deposit from his & his friend's a/c. Right now head office does not know about anything of this transaction but we are very sure your staff Mr. Anand Singh & Mr. Sudhir Kumar know that where they have sold that consignment & received payment in which account. Please bear with us and try to know about lapses & conspiracy behind raised situation between two reputed companies. Because the address used for communication is different, on the invoice buyer/consignee Ambient Computronics Pvt. Ltd.-Lucknow & address is of Varanasi GST No. is of Varanasi all these things are also very confusing. Please verify billing address through GST No. & under....