TaxTMI 
TaxTMI 
2022 (10) TMI 522
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....ty Four Only) being an Operational Debt due and payable by the Corporate Debtor towards the unpaid invoices amount for the food and spicy items supplied by the Operational Creditor to the various branches of the restaurants of the Corporate Debtor situated at Vile Parle branch, Versova branch, M.I.D.C. branch and Phoenix Mills branch at Mumbai. 2. The brief facts of the case are as follows: i. The Operational Creditor is a Sole Proprietary Firm of the said Mr. Vinay Mohanlal Shah and the said Operational Creditor is involved in the wholesale business of supply of food grains. ii. The Corporate Debtor had placed various purchase orders to the Operational Creditor requesting supply of various food grains and grocery items. Wherein the Operational Creditor supplied the goods and thereafter raised the various invoices. iii. The Corporate Debtor has made certain part payments towards some of the invoices and the last part payment of Rs. 1,70,000/- was made on 24.12.2018. iv. On 15.05.2019 the Operational Creditor issued demand notice dated 15.05.2019, under to the Corporate Debtor, calling upon the Corporate Debtor to make the balance unpaid princi....
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....reditors that they are supplying inferior quality of goods in various different restaurants owned by the Corporate Debtor, it was noticed that the Staff of the CD have acted in collusion and connivance with the representatives of the OC and therefore Corporate Debtor immediately stopped business transaction with the Operational Creditors. vi. On letter dated 28.05.2019 have specifically requested the OC to provide the details and particulars of the accounts and to grant them inspection however for the reasons best known to the OC, the said inspection was not granted to the CD which clearly shows that the OC have approached this bench not with clean hands but tried to prejudice the minds of this bench on the basis of the false, frivolous and bogus documents. vii. The Corporate Debtor / Respondent contends that this company petition is filed in respect of the certain goods allegedly sold in the year 2016. And that there are certain bills/invoices, which are of May 2016, June 2016, July 2016 and August 2016 claimed in respect of the said bills are hopelessly barred by law of limitation and therefore even there are certain bills of 12.01.2015 i.e the majority of the i....
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....se and concocted story about alleged supply of sub-standard goods is taken up for the first time in their reply dated 28th May, 2019, which is nothing but an afterthought as lastly, part payment was made on 24.12.2018. Para. 8 The Operational Creditor states that prior to demand notice dated 15.05.2019 issued by the Operational Creditor under Section 8 of the IB Code 2016, there was no communication/ intimation by the Corporate Debtor to the Operational Creditor about the alleged supply of sub-standard goods. In fact the part payment made is in itself contradictory to the allegation of substandard goods. The said allegation is maliciously adopted to avoid the payment of admitted debts. I repeat and reiterate that at no point of time I have received any intimation or communication from the Corporate Debtor about the alleged supply of sub-standard goods. Para.11 The Operational Creditor states that the present application / petition under Section 9 of the IB Code is very much maintainable and is also within limitation. The debt amount claimed by the Operational Creditor is within the period of limitation as last part payment of sum of Rs. 1,70,000/- was paid by the Corpor....
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....ditor claimed the amounts under different invoices covering from 07.06.2016 till 21.02.2018. c. "Debtors Outstanding Statement of the Corporate Debtor as on 17.08.2019" for Vile Parle Branch under Exhibit 'J' at Page No. 60 of the Company Petition. The Operational Creditor claimed the amounts under different invoices covering from 21.10.2015 till 24.02.2018. d. "Debtors Outstanding Statement of the Corporate Debtor as on 17.08.2019" for Versova Branch under Exhibit 'K' at Page No. 67 of the Company Petition. The Operational Creditor claimed the amounts under different invoices covering from 03.05.2016 till 21.02.2018. v. The Operational Creditor in Part 4 of the Company Petition mentioned as if the debt fell due on 24.12.2018 i.e. the date on which part payment of Rs. 1,70,000/- was made on 24.12.2018 and thus, the Operational Creditor computed the period of filing the above Company Petition from 24.12.2018 for invoices from 2015 till 24.02.2018. vi. In order to decide the above issue, it is important to look at Article 14 of the Limitation Act which deals with the period of limitation for price of goods sold and delivered. Article 14- Description of s....