2018 (7) TMI 2292

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....rperson and Justice Bansi Lal Bhat, Member (Judicial) For the Appellant : Mr. Sarwar Raza, Mr. Takreem Ahsan Khan, Ms. Umama Zehra and Mohd. Waseem Akram, Advocates ORDER The appellant (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016(hereinafter referred to as the 'I&B Code') for initiation of 'corporate insolvency resolut....

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.... hearing the learned counsel for the appellant and on perusal of the record, we find that the Adjudicating Authority heard both the parties and considered the relevant objections raised by the Corporate Debtor, some of which are quoted below: "(iii) On facts, it is contended that goods have not been supplied in full as per the purchase order dated 1.6.2017 and whatever supplies have been ....

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....contended by the OC. In this connection, it is stated that while the invoice claimed that it had supplied 650 boxes and 8 bundles of material, however, on actual receipt of goods since it was found that CD had only received 588 boxes and 8 bundles and in view of the same, objection was duly recorded therein. (vi) The objection in relation to the non-delivery of goods, it is contended can ....

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.... supplied within the time specified. Thus, it is contended that the amount claimed in default is not payable due to non-supply of the complete goods within the stipulated time as the same is material for fixing the false ceiling based on measurements and that the CD has suffered a irreparable loss particularly when time was the essence of the contract and the supply of goods were not on time as al....