2022 (7) TMI 1248

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...."CIRP") in respect of M/s. Shree Rama Newsprint & Papers Limited (Corporate Debtor) on the ground that the Corporate Debtor committed default in paying an Operational Debt of Rs. 55,23,253/-. 2. The following facts are not in dispute. (i) By various Invoices in between 22.04.2016 to 29.07.2016, the Operational Creditor sold and supplied the Corporate Debtor certain goods on the terms of the payment on demand. (ii) According to the Operational Creditor, the Corporate Debtor paid a certain sum of money leaving balance amount as outstanding. In spite of repeated demands, the Corporate Debtor did not pay the outstanding demand. Hence, on 28.11.2018, the Operational Creditor issued a Demand Notice to the Corporate Debtor under Section 8 of ....

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....by the Operational Creditor. I beg to annex a copy of each of the five purchase orders at Annexure-R1 Colly. 6. I say and submit that in all, during this period, i.e., period after May 2015 and ending with July 2016, the Corporate Debtor had issued 12 purchase orders. The Corporate Debtor has received material worth Rs. 2,60,74,614/- in respect of which the Corporate Debtor has received 52 invoices. Accordingly, besides 15 invoices which are part of record in this petition, the Operational Creditor had issued 37 invoices. The Corporate Debtor has made payment of all these invoices on different dates between 25.7.2015 and 28.2.2017. A perusal of the statement would show that the Corporate Debtor has made entire payment for the goods receiv....

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..... 70,76,730/-. The Corporate Debtor replied to the aforesaid letter vide email dated 15.04.2017 pointing out to the Operational Creditor that as per their account statement Rs. 37,33,552.10 is only due and payable. The Operational Creditor sent one more letter dated 27.12.2017 giving some calculations calling upon the Corporate Debtor to pay Rs. 55,23,253/-. 7. The Corporate Debtor along with its reply gave a detailed chart showing that a sum of Rs. 2,61,56,755/- has already been paid (page 17). It is the contention of the Corporate Debtor that it has paid the Operational Creditor a sum of Rs. 82,141/- in excess. The Corporate Debtor has produced on record its detailed statement as Annexure-R2. 8. It appears from the above evidence on rec....