TaxTMI 
TaxTMI 
2019 (9) TMI 1667
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....), Justice A.I.S. Cheema Member (Judicial) and Kanthi Narahari Member (Technical) For the Appellant:Mr. Aashish Jain Lunia, and Mr. R. Soundara Rajan, Advocates For the Respondent: Mr. Goutham Shivshankar, Mr. Shantanu Singh, Advocates ORDER In the Corporate Insolvency Resolution Process initiated against M/s Veerganapathi Steels Pvt. Ltd., the Resolution Professional filed Misc. Application a....
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....Pvt. Ltd, one of the debtor of the Corporate Debtor had purchased the materials from the Corporate Debtor during regular course of business held that the outstanding balance as on 31.03.2018 stands at Rs. 10,36,91,319/- which is receivable from M/s Devmata Exim Pvt. Ltd. 3. The case of the Appellant before the Adjudicating Authority was that a Purchase Order dated 05.09.2016 was issued by the App....
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.... to lift and take back the materials delivered and replace the goods by standard material as per the specification. Reliance has been placed on subsequent correspondence between the Corporate Debtor and the Appellant to suggest that no amount is payable in terms of the agreement. 5. The Adjudicating Authority noticed that the goods which were supplied by the Corporate Debtor were accepted by the ....
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....or appeared and submitted that in spite of interim order passed by this Appellate Tribunal, the Appellant has not deposited the amount in a separate Escrow Account. It is also informed that against the interim order dated 16.05.2019 passed by this Tribunal, the Appellant moved before the Hon'ble Supreme Court but the Hon'ble Supreme Court rejected the Special Leave to Appeal. 8. Apart from the fa....