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TMI Blog2020 (8) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... Adjudicating Authority, National Company Law Tribunal, Ahmedabad Bench, whereby the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by Appellant (Operational Creditor) has been dismissed. 2. The Appellant (Operational Creditor) a sole proprietorship firm is Manufacturer and Supplier of Iron & Steel Castings in India and has supplied the goods being the Valve Casting products to the Respondent (Corporate Debtor) who is a supplier of Gate Valves, Globe Valves in India. 3. The said goods were received and accepted by Corporate Debtor and there was no dispute at the time of delivery of the goods or thereafter relating to the Quantity and Quality of goods but subsequently the Respondent (Corporate Debtor) has failed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,75,061.82 - 20-Jan-2019 3,07,756.98 - 20-Feb-2019 5,07,956.20 - 20-Mar-2019 We request you with humble to accept above payment plan. If required I propose to meet at your office and conclude if you have any suggestions or modifications. Best Regards, Vipul K. Parekh" Thus the Respondent (Corporate Debtor) admitted its liability to make payment to the Appellant in writing and also gave payment plan. The Respondent also paid Rs. 1,50,000/- to the Appellant on 05.11.2018 but failed to make payment even after its own admission and written promise. 6. The Respondent failed to adhere to its promise to make payment and did not make any payment as per the payment schedule given by itself (except Rs. 1,50,000/- paid on 05.11.2018). T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating Authority and further committed fraud not disclosing the arrangement made between the parties. 11. It is further submitted that amount under the petition as per the condition is recovered, the Operational Creditor has to return the amount of Rs. 25,00,000/- to the Respondent (Corporate Debtor). 12. Learned counsel for the Appellant during the course of argument submitted that the Adjudicating Authority have failed to considered the facts that the Appellant herein send a Demand Notice under Section 8 of the I&B Code, 2016 on 22.08.2018 and the Respondent (Corporate Debtor) in its reply to email dated 24.10.2018 admitted its liability and further its email dated 27.09.2019 address to the Appellant (Operational Creditor) has given prop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lear the outstanding to AK Alloys during the course of execution of order so that AK Alloys can pay back/release hold payment to EmRise. I Hope all points are clear to all parties involved. If any doubts or disagreement kindly revert back on timely manner." 14. So, taking the facts emerging the records and also the provision of law the Ld. Adjudicating Authority have given the finding that in reply issued by Mr. Vipul Parekh being the Director of the Corporate Debtor Company to Mr. Paresh Thakkar, Appellant (Operational Creditor) to show that there are some arrangement/understanding and/or agreement between the Operational Creditor, Corporate Debtor and Flovel Valves which is continuing from 12.11.2016. This itself shows that there is di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt does not show dues payment of Rs. 25,00,000/- by the Appellant (Operational Creditor). 18. Further, Annexure R-1 of the Written Submissions filed by the Respondent (Corporate Debtor) which is the e-mail ledger account of the Appellant (Operational Creditor) relevant at page no. 164 of the Appeal Paper Book dated 02-09-2016 shows receipt of Rs. 25,00,000/- first time during the course of argument before this Appellate Tribunal. This document has been marked as 'X'. 19. In the above circumstances, as letter sent by the Respondent (Corporate Debtor) to the Appellant (Operational Creditor), this document 'X' was not placed before the Adjudicating Authority. So Ld. Adjudicating Authority rightly came to the conclusion that prior to filing o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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