TaxTMI 
TaxTMI 
TaxTMI 
2023 (7) TMI 310
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....016. The Distributorship Agreement contained Terms of Payment and Delivery. The Corporate Debtor was engaged in the manufacturing, market training, sale, purchase, imports, exports, distribution or otherwise dealing in all types of battery-operated vehicle, batteries, its parts and accessories including those manufactured / sold by other manufacturers / companies. ii. The Operational Creditor issued various purchase orders and made certain payment from time to time. Purchase Order contained a condition that "Delivery should be done within 90 days, otherwise advance shall be returned along with interest @18% p.a". Appellant - Operational Creditor made certain advance payments. iii. The Operational Creditor sent emails dated 16.06.2018 demanding an amount of Rs.58,49,800/-. Further email was sent on 26.07.2018 demanding amount of Rs.60,24,800/- which included interest of Rs.7,80,000/-. iv. Operational Creditor issued a demand notice under Section 8 dated 21.12.2020 claiming Principal Amount of Rs.56,63,061/- with interest amount of Rs.66,03,801/- and expenses totalling to Rs.1,34,69,435/-. Demand Notice was served on the Corporate Debtor but no reply was filed. v. An applicat....
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....was not fulfilled whereas application was filed after 24.03.2020, hence, it deserves to be dismissed on this ground. The Corporate Debtor had filed an application on the ground that it does not fulfil the threshold, which application was unfortunately dismissed for non-prosecution since the counsel for the Corporate Debtor could not appear on 21.10.2022. Appellant has also filed an application for recall of the order dated 21.10.2022 as well as order dated 13.12.2022, where the Adjudicating Authority directed to proceed ex-parte to the Corporate Debtor, which application remained pending and could not be listed. It is submitted that submission of the Respondent that no vehicles were supplied is incorrect. It is submitted that Purchase Orders did not contain any clause for payment of interest and Purchase Orders annexed with Section 9 application were false. In the application which is filed by the Corporate Debtor being I.A. No. 1891 of 2022 ground of Section 10A was also taken since the demand notice was issued on 24.12.2020 and application was barred by 10A. 4. Learned counsel appearing for the Respondent No.1 submits that the reliance of the Appellant on the judgment of this Tr....
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....ty Six Lakh sixty three thousand and Sixty One) and the total amount of Interest due and payable on unpaid Operational Debt as on 25th December, 2020 is 66,03,801/ (Rupees Sixty Six Lakhs Three Thousand Eight Hundred And One/-) (Including GST 18%) and such further Interest @ 18 as would be due for the payment after 25th December, 2020 till the date of realization of the unpaid Operational Debt and expenses incurred towards the advertisement Rs.7,02,573/- legal charges of Rs.5,00,000/-. Hence, the Aggregate of total amount of unpaid Operational Debt due and payable by the Corporate Debtor to the Operational Creditor as on 25th December, 2020 is Rs 1,34,69,435/- (Rupees One Crore Thirty Four Lakhs Sixty Nine Thousand Four Thirty Five Only). 7. In Part IV at Serial No.2 'amount claimed to be in default and the date on which the default occurred' is mentioned as follows: 2. AMOUNT CLAIMED TO BE IN DEFAULT AND THE DATE ON WHICH THE DEFAULT OCCURRED (ATTACH THE WORKINGS FOR COMPUTATION OF AMOUNT AND DAYS OF DEFAULT IN TABULAR FORM) The total amount of debt payable by the Corporate Debtor to Operational Creditor is Rs.56,63,061 (Fifty Six Lakh sixty three thousand and Sixty O....
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.... Date: Thursday, July 26,2018,03:18 PM GMT+5:30 Dear Sir Given below is the detail of amounts outstanding against your account in our books till today. We request you to take immediate steps to return / refund our amount with Interest or you can send us the E-loaders of equivalent amount till 31st July' 2018 and oblige. Initially Paid to you : 50,00,000/- Interest Till 31/07/2018 : 7,80,000/- Returned 88 Batteries Refund : 2,94,800/- Total Till date:- :60,74,800 Kindly make the Payment on priority. Regards Rajesh Y Rustagi Projects Pvt Ltd." 10. Learned counsel for the Appellant before us has submitted that the Purchase Orders which was issued does not contain any condition for payment of interest. Copy of the Purchase Orders were part of the Section 9 application which clearly contain the condition of interest. Furthermore, in the email which was sent by the Operational Creditor in the year 2018, the amount of interest was also included. The Corporate Debtor did not file any reply to the Section 9 application although twice the time was taken for filing reply. On 10.01.2022, the Adjudicating Authority granted two weeks' time to file reply by following ....