TaxTMI 
TaxTMI 
2022 (7) TMI 459
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..... It is submitted in the petition that the Operational Creditor is carrying on the business of running sugar mill and supplied molasses to Corporate Debtor on regular basis. 4. It is submitted that vide circulars dated 09.04.2018, 20.06.2018 and 12.11.2018, received from Prohibition, Excise & Registration Department, Government of Bihar, wherein the quantity of the molasses was categorically specified which was to be supplied by the Operational Creditor to the Corporate Debtor and consequent upon these two circulars the desired quantity was supplied to the Corporate Debtor which was accepted by them. It is submitted that the Operational Creditor supplied 1,08,332.70 quintals of molasses @ Rs. 287.50 + GST 28% extra per quintal to the Corporate Debtor from January, 2018 to October, 2018 and in respect of which 502 Invoices were raised from 19.01.2018 to 24.01.2018. The total Sale during the said period was of Rs. 3,98,66,435.97/- out of which Rs. 1,25,00,000.00/- has been received and Rs. 40,382.29/- is the opening balance as on 19.01.2018 as reflecting in the Ledger account of the Operational Creditor. Therefore, the total amount due is INR 3,48,35,146.68/- which includes INR 75,0....
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....re P-12. 12. A Supplementary Affidavit has been filed by the Corporate Debtor through its Account Manager. It is submitted in that affidavit that the Operational Creditor had filed the present petition for an alleged debt amounting to Rs. 3,48,35,146.68/-.It also includes Rs. 2,73,26,052.68/- as the principal amount for the supply of goods and Rs. 75,09,094.00 as an interest @ 18% per annum. 13. It is submitted that pursuant to the filing of the said petition, both the parties had amicably settled the matter at Rs. 2,73,26,052.68/- as full and final settlement against all the debt amount claimed in the C.P. 2110/KB/2019 before this Adjudicating Authority and agreed to waive the interest portion. Thereafter, as per the agreed terms, the Corporate Debtor has already paid Principal outstanding debt amounting to Rs. 2,73,26,052.68 in several tranches which was duly received by the Operational Creditor which are under:- Particulars Amount (Rs.) As per Terms of Settlement amount payable to OC 2,73,26,052.68 Paid on 13-07-2020 ( 32,00,000) Paid on 05-08-2020 ( 32,00,000) Paid on 04-09-2020 ( 32,00,000) Paid on 09-10-2020 ( 32,00,000) Paid on 06-11-2020 ( 32,00,000) Paid ....
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.... without receiving the balance amount of Rs. 75,09,094/- and requested the Corporate Debtor to pay the balance amount. It is submitted that the Corporate Debtor sent one letter dt. 15.01.2021 stating therein that the amount has been transferred as full and final settlement. It is submitted that merely by sending letter to the Operational Creditor that the matter has been settled, would not mean that the Operational Creditor had also agreed to the contents mentioned in the letter, particularly when the Operational Creditor refused to settle unless and until the whole due amount has been received. 18. It is submitted that there was no mutual understanding between the parties as stated by the Corporate Debtor. However, despite refusing to settle the matter without receiving the balance amount, the Corporate Debtor sent one settlement agreement which was signed by the Corporate Debtor only and in such settlement agreement, there was no such term to pay the balance amount to the Operational Creditor. Therefore, the terms of the settlement were not agreed by the Operational Creditor and that the settlement agreement was never signed nor executed. It is submitted that WhatsApp message da....
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....Thanking you, For Tirupati Sugars Limited Type a message" 21. By way of this Whatsaap Message, the Operational Creditor acknowledges the receipt of Rs. 2,73,26,052.68 as against the case pending before this Adjudicating Authority. In that very message, the Operational Creditor further confirms that they have also received interest amount of Rs. 75,09,094/- as claimed along with the pending dues. Pursuant to this Whatsaap Message, the Corporate Debtor sent a message on 24th February, 2021 sending a copy of the MoU of Settlement. The Corporate Debtor was requested to see and confirm. This message is also reproduced as under:- "10.31 Saurav Tirupati Sugar B.... 24th February, 2021 Sir, Good Evening sending your mou of settlement. Pls see & confirm. So, we will send Hard copy to get your signature. 5.52 PM" 22. Thereafter, on 27th February, 2021, the Corporate Debtor is stated to have sent a message to the Operational Creditor as under:- "Forwarded Estimated cost of Withdrawal of Case: 1) Drafting of Closure Application and settlement 2) Fees for hearing - Rs. 15,000/- 3) Statutory Fees for filing of closure application - Rs. 1000/- GST applicable 4.25 pm" ....