2022 (2) TMI 743

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....ch the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench has dismissed the application filed by the Appellant under Section 9 of the Code. 2. The Appellant's case is that he was an Operational Creditor and there was unpaid amount pertaining to five invoices dated 10.01.2014, 29.10.2013, 29.10.2013, 31.10.2013 and 01.11.2013. The payment of last invoice was due on 10.04.2014. In Application under Section 9 an aggregate amount of Rs. 87,97,700/- was claimed. The Appellant received the last payment on 31.03.2014. The Application under Section 9 was filed on 26.03.2021. The Adjudicating Authority took the view that unpaid invoices claimed is on 10.04.2014 and last date of payment is 31.03.2014 from which limitation expi....

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.... is submitted that Section 5 benefit should have been granted even if no application has been filed. 5. We have considered submissions of learned counsel for the Appellant and perused the record. 6. The Part IV of the application under Section 9 mentions the details of the unpaid invoices and the payment due date. It is useful to extract part of the column 1 of the Part IV, which is to the following effect:- "Date from which the debt fell due: The debt in respect of each Unpaid Invoice fell due on the following dates: S. No. Invoice No. Payment due date 1. 13002001 27.01.2014 2. 13002002 27.01.2014 3. 13002024 29.01.2014 4. 13002043 30.01.2014 5. 13000115 28.02.20....

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.... notice was responded by the Corporate Debtor on 26.05.2014 and in the last portion of the Reply following has been stated:- "Hence, as my client is an honest businessman/entity and does not want to get indulged in any sort of litigation, hereby suggest your client to furnish a Bank Guarantee of 10% of the total sales as orally committed to my client and do not pull my client in any sort of frivolous litigation. If, in case, your client do so then it is needless to mention that the same will be defended upon the cost of your client." 9. The mere fact that the Corporate Debtor has asked to submit 10% Bank Guarantee shall not in any manner arrest running of limitation which began when amount became due and payable and not paid. ....