TaxTMI 
TaxTMI 
2026 (4) TMI 1282
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....s. It claims that an amount of Rs. 1,49,04,757/-crores is outstanding against the Appellant as per its ledger. 3. As a background, it informs us that the Appellant - BPSL had undergone CIR Process vide order dated 26.07.2027 under Section 7 of the Code. Subsequent to the approval of resolution plan, the new management had taken over. It also informs us that during the pendency of CIR Process the erstwhile RP of the Appellant had issued a demand notice dated 04.03.2019 to the respondent. It was replied by the Respondent on 08.03.2019. Later on, it issued another demand notice on 07.10.2021 under the Code. The Appellant claims that a reply was provided by the Respondent on 13.10.2021. 4. Thereafter the Appellant filed CP (IB) No. 277/2022 on 12.07.2024, however, NCLT dismissed the petition on the ground that the petition is not maintainable in terms of Section 4 as a debt defaulted is less Rs. 1 crore. Submissions of Appellant: 5. The Operational Creditor claims that as per its ledger Rs. 1,49,04,757/- is outstanding towards the principal amount. This consists of outstanding amount, the details of which are as under: o the outstanding amount from the unit with SAP C....
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....ith corporate debtor except which are on pages 75 to 76 and 125 to 129 against, which payment has already been made. Appellant claims that for the first time, this kind of defense has been taken. Neither in Email dated 06.09.2019 nor in Reply dated 13.10.2021 to Demand Notice dated 07.10.2021, any such defense was taken despite the fact that the invoices filed herein and the unpaid debt referred herein were duly enclosed alongwith Demand Notice. 8. The Operational Creditor had filed Rejoinder before Ld. NCLT to the Reply filed by the Corporate Debtor to Company Petition. In the rejoinder the Operational Creditor has categorically stated that vide one earlier Demand Notice dated 04.03.2019, unpaid debt of Rs. 2,65,62,017/- alongwith interest @ 24% per annum was demanded from the corporate debtor. Alongwith said Demand Notice dated 04.03.2019, all documents i.e. Tax Invoices alongwith Goods Receipts, Ledger Account maintained by the Operational Creditor in the name of the Corporate Debtor [SAP Code 1000224 & SAP Code 1000579] enclosed with the Demand Notice 07.10.2021 were also enclosed. The amount of unpaid debt claimed in that Demand Notice is same as claimed in the present Dema....
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....orporate Debtor did not file Affidavit of its directors and has merely, by filing Affidavit of its manager namely Mr. Sanjeev Kumar, stated that AG Pipes Pvt. Ltd. is not holding any unit in the name of AG Pipes. No such averment or document was even mentioned/enclosed with the said Affidavit as have been filed alongwith Affidavit dated 25.10.2023. For the first time, in the Affidavit dated 25.10.2023, the Corporate Debtor has taken new defense and has enclosed various documents which were never stated and relied upon in any of the previous pleadings and the same cannot be looked into by Ld. NCLT. 12. The Operational Creditor filed Affidavit dated 28.07.2022 (and Affidavit dated 16.10.2023 of Ms. Garima Vashist, AR, stating that:- "2. That the Operational Creditor has undergone CIR Process before this Hon'ble Adjudicating Authority during the period the operational creditor has gone CIR Process before Hon'ble Adjudicating Authority, New Delhi during the period 26.07.2017 (the Order vide which the petition was admitted and IRP was appointed) to 05.09.2019 (the Order vide which resolution application was accepted) and after acceptance of resolution application, ne....
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....SC/1196/2017 passed by the Hon'ble Supreme Court of India (Relevant Para 24); ii) Consolidated Construction Consortium Limited vs. Hitro Energy Solutions Private Limited reported in MANU/SC/0152/2022 (Relevant Paras 23, 35 & 36); iii) M/s. Next Education India Private Limited versus M/s. K12 Techno Services Private Limited passed in Company Appeal (AT)(Insolvency) No. 98 of 2019 passed by the Hon'ble National Company Law Appellate Tribunal, Principal Bench (Relevant Paras 27, 28, 29 & 30); iv) Ahluwalia Contracts (India) versus Raheja Developers Limited passed in Company Appeal (AT) Insolvency No. 703 of 2018 passed by the Hon'ble National Company Law Appellate Tribunal, New Delhi (Relevant Paras: 16, 17, 18, 19, 20, 21 & 22); Both the above judgments, relying upon various judgments of Hon'ble Supreme Court inter alia Mobilox Innovations Pvt. Ltd. versus Kirusa Software (P) Limited reported in 2017 SCC OnLine SC 353, Hon'ble NCLAT has re-affirmed that "existence of dispute must be pre-existing i.e. it must exist before the receipt of Demand Notice". Submissions of Respondent: 17. The entire case of the Appellant is based....
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....G. Pipes (the proprietorship firm) are two distinct and independent entities, each having its own legal status, operations, and financial structure. The two entities operate separately and are not legally or operationally interconnected. 21. The outstanding debt pertains to two SAP account codes, namely 1000224 and 1000579. The bifurcation of the debt amount claimed by the Appellant before the Ld. AA, categorized by SAP code, is stated herein below: "D. That as per the Ledger account-maintained the Operational Creditor Rs. 1,49,04,757/- outstanding towards the principal amount, the detail of which are as under: - "the outstanding amount from the unit with SAP Cod 1000224 Rs. 1,42,02,301-. The last payment was made by the Corporate Debtor on 30.11.2019 and therefore the interest is calculated w.e.f 01.12.2019 the outstanding amount from the unit with SAP Cod 1000579 - Rs. 7,02,527/. The last payment was made by the Corporate Debtor on 23.09.2019 and therefore the interest is calculated w.e.f 01.12.2019;" 22. Respondent has already paid a sum of INR 7,02,527/- (Rupees Seven Lakhs Two Thousand Five Hundred Twenty-Seven Only) to the Appellant towards the alleged....
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..... A copy of the Udyam Registration Certificate in the name of A.G. Pipes Pvt. Ltd. is marked in the Reply as Annexure R-14 at Pg. 63. VAT Registration Certificate of A.G. Pipes, Sole Proprietorship. A copy of the VAT Registration Certificate in the name of A.G. Pipes, Proprietorship concern is marked in the Reply as Annexure R-15 at Pg.67. VAT Registration Certificate of A.G. Pipes Pvt. Ltd. A copy of the VAT Registration Certificate in the name of A.G. Pipes Pvt. Ltd. is marked in the Reply as Annexure R-16 at Pg.69. EPF Certificate in the name of A.G. Pipe proprietorship concern. A copy of the EPF Certificate in the name of A.G.Pipe, proprietorship concern is marked in the Reply as Annexure R-17 at Pg.71. EPC Certificate in the name of A.G. Pipes Pvt. Ltd. A copy of the EPF Certificate in the name of A.G. Pipes Pvt. Ltd. is marked in the Reply as Annexure R-18(Colly) at Pg. 77. Central Excise Department Registration of A.G. Pipes, Sole Proprietorship. A copy of the Central Excise Department Registration in the name of A.G. Pipes, Proprietorship concern is marked in the reply as Annexure R-19 at Pg. 78. 23. The invoices raised by the Appellant are for d....
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....01/2018 0601006371 A.G. PIPES 7,79,449/- 21. 15/01/2018 0601006476 A.G. PIPES 3,41,592/- 22. 16/01/2018 0601006589 A.G. PIPES 3,29,106/- 23. 16/01/2018 0601006591 A.G. PIPES 2,26,855/- 24. 20/01/2018 0601006709 A.G. PIPES 4,35,355/- 25. 22/01/2018 0601006780 A.G. PIPES 3,45, 132/- 26. 22/01/2018 0601006782 A.G. PIPES 1,11,333/- 27. 22/01/2018 0601006783 A.G. PIPES 80,383/- 28. 17/02/2018 0601007585 A.G. PIPES 4,53,816/- 29. 28/03/2018 0601008603 A.G. PIPES 1,37,151/- 30. 28/03/2018 0601008604 A.G. PIPES 2,67,340/- 31. 28/03/2018 0601008605 A.G. PIPES 3,46,306/- 32. 20/04/2018 0601000365 A.G. PIPES 4,51,088/- 33. 20/04/2018 0601000366 A.G. PIPES 3,07,929/- 34. 18/06/2018 0601001752 A.G. PIPES 7,47,872/- 35. 19/06/2018 0601001789 A.G. PIPES 5,97,434/- 36. 20/06/2018 0601001835 A.G. PIP....