- (1.) Cp No. 1509/ I&BP/NCLT/MB/MAH/2017 On perusal of this case, we have noticed that this Petitioner company, claiming itself as Operational Creditor filed this case against a Corporate Debtor namely Venerate Trading Pvt Ltd. stating that this petitioner advanced Rs. 8 crores to this Corporate Debtor for supply of goods in the year 2013, since this Debtor having failed to supply goods, this Petitioner Company demanded repayment of those Rs. 8 crores to the Petitioner.
(2.) When the Corporate Debtor company failed to repay the money received as advance, the Petitioner filed this case to initiate Company Insolvency Resolution process against the Corporate Debtor. On verification of the record and on seeing the documents this Petitioner has placed, the Petitioner counsel having indicated a document paginated as page 13 in this Petition showing as the Corporate Debtor on 16.7.2013 issued confirmation of receipt of advance of 8 crores and accordingly adjusted those Rs. 8 crores as advance come from the petitioner in the account the corporate debtor maintained.
(3.) But en the contra, the statement of account the Petitioner maintained witr Syndicate Bank discloses entries of depositing money in the accounts of the corporate debtor far after confirmation letter given by the corporate debtor, i.e., on 3.11.2016; 29.11.2016; 14.12.2016; 6.1.2017, 24.1.2017; 11.4.2017; 27.4.2017; 8.5.2017; and 2.8.2017.;