TaxTMI 
TaxTMI 
2021 (5) TMI 855
X X X X Extracts X X X X
X X X X Extracts X X X X
....n short, IB Rules, 2016) by M/s. MEDI Biotek (India) Private Limited (hereinafter referred to as "Operational Creditor") for initiation Corporate Insolvency Resolution Process (in short, CIRP) against M/s. BHN Surgicals Private Limited (hereinafter referred to as "Corporate Debtor") on the ground that the Corporate Debtor failed to pay an amount of INK 22,75,514/- along with an interest of INR 8,48,192/- @18% per annum computed as on 03.09.2019 towards the supply of medical appliances (surgical instruments) and certain loans and advances. 2. On perusal of this company petition, the Operational Creditor is the supplier, trader and manufacturer of medical appliances and instruments and appliances for measuring, checking, testing etc. 3. The....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the contentions made by the Operational Creditor in its demand notice. In fact, the Corporate Debtor made a counter claim against the Operational Creditor for an amount of INR 26,80,000/- towards the medical equipment supplied and commissions which was claimed to have been suppressed by the Operational Creditor in its Demand Notice. The Corporate Debtor also referred to the email correspondence between the Corporate Debtor and the Operational Creditor, wherein the Operational Creditor stated in its email dated 17.06.2017 that, as per books of accounts of the Corporate Debtor, owes an amount of INR 10,00,000/- to the MBT Group of Companies and on the contrary an amount of INR 31,23,706/- is being claimed in the demand notice and by way of t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Suppressio veri suggestio falsi, in so far as the pre-existing disputes have been intentionally suppressed. The Operational Creditor is liable to pay the Corporate Debtor an amount of INR 26.84 Lakh towards goods supplied, apart from commission payable for the years 2014-15 to 2017-18 which were demanded from the Operational Creditor much before the demand notice was issued on the Corporate Debtor. Emails dated 16.06.2017 and 17.06.2017, capturing the email correspondence between the parties with respect to the pending dues from each other, was relied upon by the Corporate Debtor as proof of existence of dispute. 8. Heard the submissions made by the Learned Counsel/Authorized Representative for both the parties and perusal of the document....