TaxTMI 
TaxTMI 
2022 (5) TMI 910
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.... the provisions of Companies Act, 1956 on 09.12.1985, duly registered with the Registrar of Companies, Gwalior having registered office at Indore, Madhya Pradesh is engaged in the business of manufacturing, producing, processing, extracting, refining, buying, selling, importing of maize starch, dextrin, dextrose etc. 3. The corporate debtor is a private limited company, incorporated under the provisions of Companies Act, 1956 on 26.10.1999, duly registered with Registrar of Companies, Ahmedabad, Gujarat State with CIN: U29199GJ1999PTC036787 and having registered office at Vadodara, Gujarat State. Authorised share capital of the corporate debtor is Rs. 10,00,000/- and paid up share capital of the company is Rs. 1,00,000/-. The corporate debtor company is engaged in manufacturing of R.O. Antiscalant, Flocculants, poly electrolyte, water treatment accessories etc. 4. It is submitted that the applicant had placed an order dated 26.05.2018 for the supply and installation of Waste Water Recycle System having capacity of 800 m3/day. The corporate debtor was required to execute and complete the work of installation by 17.09.2018 in accordance with the purchase order read with the quotati....
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....usand seven hundred twenty-eight only) out of which Rs. 1,65,20,000/- (Rupees one crore sixty-five lacs and twenty thousand only) is the unpaid principal amount and Rs. 40,35,728/- (Rupees forty lacs thirty-five thousand seven hundred and twenty-eight only) is interest amount which has been calculated @ 12% per annum due and payable to the applicant by the corporate debtor. 9. Corporate Debtor filed affidavit in reply inter alia stating * that, in fact the applicant company is in default of payment of Rs. 9,05,650/- to the respondent company arising out of the same transaction under challenge; * that, as per the terms of the quotation dated 26.05.2018 it was set forth in Annexure-4 whereby the work to be performed by the applicant company were clearly mentioned. It was set forth in clause X of Annexure - 5 whereby the warranty period of equipment manufactured and supplied by the respondent company was for a period of 12 months from the date of commissioning and 18 months from the date of supply of major equipment whichever was earlier. For the bought out equipment and components, the respondent company was not liable for any warranty. * that, the applicant company did not ac....
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....tor vide letter dated 05.10.2020, the entire amount given by the applicant has become due and payable. 11. The corporate debtor filed written submissions stating that: * the applicant is till date enjoying the goods which is supplied by the corporate debtor as per the purchase order; * the applicant has no cause of action and locus standi to file the present application. The corporate debtor has received part-payment of outstanding amounts qua the goods supplied; * the email communications and correspondences between the applicant and corporate debtor much prior to receipt of demand notice qua the quality of goods supplied and service, substantiates that there exists a genuine dispute between the parties; * on 23.12.2019 the corporate debtor requested the applicant to release the pending payments and warned them to maintain the quality of goods supplied as their business was closed for many months; * the applicant has alleged that the debt fell due on 09.09.2018, however, on 29.01.2020, the corporate debtor had received part payment of Rs. 3.00 lacs towards outstanding dues from the applicant qua the bills which clearly shows that the entire claim of the applicant is vit....
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....our team did not allow to stay our engineer at your site due to the company personal reason, we requested your technical team to keep the plant in operation but a so long shut down of plant you are asking us to commission the plant and also you have hold of Rs. 11.00 lacs. We did not delay to send our engineer at your site but it is subjected to releasing our payments. Please release our at least 7.5 to 8.00 lacs our engineer will at your site. Sir, your technical teams knew that it is waste water recycling RO plant and need proper care every day still they did not operate the plant then how can anybody can maintain quality of this plant after its shut down of months." (sic) Email dated 12.01.2019 sent by the corporate debtor reads as under: "As per our todays discussion, we are ready to commission the plant but you need to maintain the feed water quality as per the attached data sheet at the time of proposal dated 26.05.2018. If we will feed the higher BOD/COD or high turbidity water UF as well as RO membranes will damage quickly. So please improve the treated effluent quality or allow us to run the plant at higher parameters but life of membranes will be in your risk." 16....