- (1.) Oral Order dictated in the open court on 03.01.2018 It is a Company Petition filed u/s 9 of Insolvency and Bankruptcy Code against the Corporate Debtor for having the Corporate Debtor failed to make payment of Rs. 6,77,147 for the goods supplied to the Corporate Debtor on the invoices raised by the Petitioner towards the goods supplied by It. In pursuance thereof, the Petitioner filed this Petition u/s 9 of IBC to initiate the Insolvency Resolution Process against this Corporate Debtor. The facts of the case are as follows:
(2.) The Corporate Debtor issued Purchase Orders dated 03.02.2014, 07.03.2014, 08.05.2014, 30.07.2014, 08.09.2014 and 08,11.2014 for supply of Colloidal Silicon Dioxide. In pursuance thereof, the Petitioner supplied the chemicals aforementioned by raising invoices dated 17.05.2014, 10.09.2014, 12.11.2014 and 23.12.2014 for an amount aggregating to Rs. 11,77,147, out of which, the Corporate Debtor having already paid Rs. 5,00,000 (on 10.06.2014 Rs. 1,00,000, on 22.10.2014 Rs. 3,00,000 and on 11.02.2015 Rs. 1,00,000) , the same has been adjusted against invoices dated 25.02.2014, 18.03.2014 and partly adjusted against invoice dated 17.05.2014. As to remaining outstanding balance, the Corporate Debtor having failed to pay the same despite the debtor has been put on reminders on several times, the Petitioner gave notice u/s 433, 434 of the Companies Act, 1956 on 14.08.2015, for which also there being no response denying the claim made by the Petitioner except sending an e-mail dated 13.11.2015 saying that the Corporate Debtor would make payment in the same month i.e. November 2015, the petitioner remained rest assured hoping payment would be made by the corporate debtor, but no payment was made. Then again, the petitioner got issued another notice to the corporate debtor on 18.02.2016 under new Companies Act 2013.
(3.) For no payment has come as stated by the Corporate Debtor, this Petitioner finally filed Company Petition u/s 433, 434 & 439 of the Companies Act, 1956 making a claim of Rs. 6,77,147 along with interest @24% aggregating to Rs. 7,99,666 as on 05.07.2016.;