TaxTMI 
TaxTMI 
2022 (5) TMI 1306
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....e Debtor towards tax invoices raised against supply of industrial equipments/consumable products. Hence this petition is filed under section 9 of Insolvency and Bankruptcy Code, 2016, read with Rule 6 of Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the petition, initiation of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. 2. The averments made in the petition are as follows: (i) The Operational Creditor has supplied and delivered, vide Purchase orders and Invoices for the period from 01.04.2014 to 31.03.2015 (Annexure A, Vol. 1 of the petition), industrial equipments/con....
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....ion sheet is not attached. For want of supply of requisite documents the Operational Creditor has not complied with the requirements of I&B Code. The Corporate Debtor has asked the Operational Creditor to withdraw Form-3. 3. The Corporate Debtor has filed counter dated 13.11.2019 contending that: (i) The claim made by the Operational Creditor is merely based on Purchase Orders raised by the Corporate Debtor on the Operational Creditor and the amounts being released after due verification and scrutiny by the Corporate Debtor. The invoices/Purchase orders have no bearing on the claim raised by the Operational Creditor. Such invoices/purchase orders do not bear stamps of the Corporate Debtor which is essential to establish delivery of goods....
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....tamp affixed by the security person present at the time of delivery of goods and get serial number, date, time entered duly signed by the representative of the Corporate Debtor. It is submitted by the Operational Creditor that at the bottom of the delivery challan the remarks "Received the goods in good condition" can be found duly signed and stamped. That signifies the goods having been received by the representative of the Corporate Debtor. (ii) The Corporate Debtor has raised dispute only after receipt of From-3/Demand Notice, not prior thereto. 5. The Corporate Debtor has filed Written Arguments dated 20.04.2022 with Memo for Condonation of Delay of even date seeking condonation of delay in filing the Written Arguments. Whereas in th....
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....rporate Debtor. Nextly, the learned counsel would contend that in terms of the Purchase Orders, the Operational Creditor delivered goods under various invoices, which are mentioned at Annexure 'A'. Learned counsel submitted that Corporate Debtor had not disputed receipt of goods under these invoices and the Corporate Debtor has not disputed receipt of the goods. Placing reliance on the Ledger Account maintained by the Operational Creditor in respect of goods supplied to the Corporate Debtor herein, the learned counsel would further submit that whatever payments received pursuant to supplies made were stated in the ledger and as per the ledger, an amount of Rs. 26,59,949/- remains to be paid by the Corporate Debtor. Therefore, demand....
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....ied by the Operational Creditor are received in good condition, the Corporate Debtor is precluded from contending contra, that too in its counter. It may be stated herein that prior to receipt of Demand Notice dated 20.03.2019 the Corporate Debtor never raised any such plea or any dispute. So much so, the submission of the learned counsel for the Corporate Debtor that the seal and signature of some of the invoices are forged and fabricated is baseless and hence rejected. 12. Nextly, the ledger filed by the Operational Creditor for the period for the period from 01.04.2014 to 31.03.2019 in respect of the goods delivered under various invoices mentioned above, is not disputed by the Corporate Debtor. The Corporate Debtor has not placed any m....
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.... the recovery of any property by an owner or lessor where such property is occupied by or in possession of the corporate Debtor; (C) That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. (D) Notwithstanding anything contained in any other law for the time being in force, a license, permit, registration, quota, concession, clearances or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that ther....