2023 (12) TMI 688

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....[ Justice Ashok Bhushan ] Chairperson And [ Arun Baroka ] Member ( Technical ) For the Appellant : Mr. Sourojit Dasgupta and Mr. Aniket Chaudhury , Advocates For the Respondent : Mr. Tabrez Malawat and Ms. Rupali Jain , Advocates ORDER Heard learned counsel for the Appellant. This is an Appeal filed against order dated 04.08.2023 by which order application under Section 9 application filed by ....

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....on the bill which was raised by the Operational Creditor. The letter dated 04.02.2021 is at page 243 of the paper book. It is useful to extract the following from the letter: "The Company received from your Client a bill dated 15th May, 2018 amounting to Rs.89.95.155/- (hereinafter referred to as "Bill") on account of invocation of pledge which was arbitrary levied since no charge for "Invocatio....

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.... neglected and failed to amicably settle the matter but on the contrary continued to arbitrarily charge late payment interest 18% on the disputed, arbitrary and wrongly pledge invocation charge Bill which the Company regularly objected and disputed. The Company therefore reiterates that no charge is payable by the Company on the said Bill Le. on invocation of pledge as per the Agreement executed....