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TMI Blog2021 (6) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... order and as such the Corporate Debtor is not entitled for any further payment to be made by the Respondent in this regard as claimed in the Application. Application dismissed. - MA/1393/2019 in IBA/316/2019 - - - Dated:- 1-6-2021 - R. Varadharajan, Member (J) And Anil Kumar B., Member (T) For the Appellant : Muthuiah Thevar Rajapandian For the Respondents : P. Raja, Advocate ORDER R. Varadharajan, Member (J) 1. This is an Application filed by the Applicant viz., Muthuiah Thevar Rajapandian, Resolution Professional of M/s. Unique Roof Private Limited under Sections 17, 18, 20, 25(2)(b) read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) seeking reliefs as follows:- The Hon'ble Tribunal may be pleased to direct the respondent to pay the balance outstanding amount of ₹ 39,08,034/- to the Corporate Debtor in pursuant to the supplies made by the Corporate Debtor to the respondent company and pass any such other order, orders, direction and directions and thus render justice . 2. It is seen from the averments made in the Application that the Corporate Insolvency Resolution Process (CIRP) in relation to the Corp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance to the supply being made by the Corporate Debtor to the Respondent. 8. The Respondent has filed the counter. Learned Counsel for Respondent submitted that the Respondent has paid a sum of ₹ 59,00,000/- as on 22.01.2019 even without any work being started by the Corporate Debtor and whenever the Respondent enquired about the delay in work, the Corporate Debtor used to give lame excuse for the same. 9. Further it was submitted that as per original purchase order, Corporate Debtor is required to complete the work on or before 28.03.2019, however, the Corporate Debtor has failed to complete the same, in pursuance of which the Respondent has sent various e-mails to the Corporate Debtor for not even starting the work and after several reminders it was submitted that the Corporate Debtor has acknowledged the e-mail dated 26.03.2019 and has sought time to complete the work on or before 25.05.2019 based upon the meeting of the parties which was held on 08.04.2019. 10. It is alleged in the counter that the Corporate Debtor has indulged in fraudulent activity by inflating the bills for which the Respondent has cautioned the Corporate Debtor for a number of times. Further i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 lakh for a delay and damage caused to the Corporate Debtor to which the Respondent through its counsel had replied by denying the allegations made therein. 16. Learned Counsel for Respondent submitted that they had to complete the project by engaging some other persons and thereby the Respondent had incurred loss of time, money and energy and further Corporate Debtor has caused damage to the Respondent by not properly fixing the purlins and other works done by the Corporate Debtor also remain to be defective. 17. It was also submitted that as on 24.08.2019, the Respondent has cancelled the contract and the work done at the site was estimated by a Chartered Engineer and the same was assessed as for a value of ₹ 57,48,702/- including GST and the same was less than the payment which has been already received by the Corporate Debtor i.e., payment of a sum of ₹ 59 lakh. 18. Further it was also submitted that the Corporate Debtor has been creating documents to boost their credit value in order to save themselves from the action of this Tribunal and in the said process they have inflated the bills unilaterally and has created sham documents dated 14.08.2019, styled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. Mail - Non Compliance of Terms of Contract/Project Delay/Kalimati Car (P) Ltd. KALIMATI The Carbon Company Abhisek Jain, Kalimati Carbon Non Compliance of Terms of Contract/Project Delay/Kalimati Carbon (P) Ltd. Abhisek Jain/Kalimati Carbon (P) Ltd. Tue, Jun 11, 2019 at 9:25 PM To: Enquiry Cc: [email protected], vikram dixit kannaiah , Suresh Carbon Dear Sir, You have completely failed to comply terms of contract as agreed and signed by both parties. Moreover, you have been doing over billing despite of our repeated request. The project has been suffered due to long standing delay in supplying roofing materials due to which we could not install activation machinery, This has caused our bank to charge us penal interest and held up with regards to further release of funds. We have highlighted these points in emails and requested you during several meetings in your Coimbatore works. We had to station our employee at your works to monitor progress works as well in the past. These clearly signifies non compliance and diversion/mismanagement of funds remitted to you, Having said that, incurred bank in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 28. Further as per the valuation which is given by Chartered Accountant in so far as the goods being supplied by the Corporate Debtor to the Respondent was being valued at a sum of ₹ 57 lakhs and as per the demand made by the Applicant, the Respondent has paid a sum of ₹ 59 lakhs. 29. Thus, it is seen that there has been a gross violation in relation to adhering to the terms and conditions prima facie by the Corporate Debtor in relation to the goods to be supplied by it and as such the Applicant, being a Resolution Professional of the Corporate Debtor and being appointed by this Tribunal and having taken charge only from 10.10.2019 cannot be in a position to explain as to what transpired between the parties and also being ignorant of the series of e-mails being exchanged between the parties and thus from the e-mail communications being exchanged between the parties, it is seen that the Corporate Debtor has acted in violation of the terms and conditions of the purchase order and as such we are of the considered view that the Corporate Debtor is not entitled for any further payment to be made by the Respondent in this regard as claimed in the Application. 30. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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