2021 (3) TMI 1277

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....ner includes principal and interest at the rate of 18%. The petitioner states that the petitioner supplied Mono Cartoons and Labels to the Corporate Debtor and raised invoices (as stated in Page No. 43 of the application) for the period 19.05.2015 to 09.12.2016. The total 17 no. of invoices were raised by the petitioner. The petitioner is claiming this amount due and payable. The proprietary concern of the petitioner has also issued demand notice under Section 8 of the IBC dated 23.02.2019. This application for initiation of CIRP against the Corporate Debtor was filed on 18.11.2019. Ld. Counsel for the petitioner submits that the entire account between the Corporate Debtor and the petitioner was running account. Hence, out of various suppli....

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....the16 invoices out of 17, detailed at Page No. 43, which are from 19.05.2015 onwards, are clearly time barred. The only invoice which is within the period of limitation as per the date of application, is the last invoices dated 09.12.2016 claiming the amount of Rs. 33,660/- (Rs. Thirty-three thousand six hundred and sixty only). The Ld. Counsel for the petitioner submits that the last payments towards these invoices were received on 17.05.2017. On 17.05.2017 the Corporate Debtor paid a sum of Rs. 2,00,000/- (Two Lakh). However, at the time of arguments also the Ld. Counsel for the petitioner states that the said Rupees two lakh payment received from the Corporate Debtor is not towards the outstanding in of those 17 invoices referred to and ....