9911796707
TMI Blog2021 (2) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the Petitioner, after waiting for a long time, has issued demand Notice only on 13.11.2019, under provisions of Code, to the Respondent. The instant Petition is admittedly filed with an intention to recover the alleged balance amount, which is against the object of Code, and the settled position of law on the issue. Since the Respondent has paid part-payments with an assurance to clear the balance in short time, the Petition can be disposed of by directing the Respondent to settle the claim within prescribed time. The Respondent is directed to settle the claim of Petitioner as promised, within a period of three months from the date of receipt of copy of this order, failing which, the Petitioner is entitled to take appropriate legal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng of automation and control system after greeting upon the terms of the offer made by Operational Creditor, including the technical specifications and pricing. The Corporate Debtor, as per the terms of contract, paid ₹ 6,60,000/- as an advance. The Operational Creditor made all the supplies of materials/equipments ordered, at the site of Corporate Debtor. The Operational Creditor raised two invoices dated 09.12.2016, each against the supplies made for an aggregate amount of ₹ 37,86,750/-. The Corporate Debtor, though accepted the invoices against the supplies made but made only part payment of ₹ 18,06,773/- and promised to clear the balance at the earliest. Further, the Operational Creditor made many reminders through cal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Debtor paid ₹ 6,60,000/- as an advance. And, as against two invoices dated 09.12.2016 for an aggregate amount of ₹ 37,86,750/-, the Respondent paid part-payment of ₹ 18,06,773/- and another part-payment of ₹ 5 Lakh in June 2017 with an assurance to clear the remaining balance amount shortly but failed to do so. Therefore, the Petitioner, after waiting for a long time, has issued demand Notice only on 13.11.2019, under provisions of Code, to the Respondent. Therefore, the instant Petition is admittedly filed with an intention to recover the alleged balance amount, which is against the object of Code, and the settled position of law on the issue. Since the Respondent has paid part-payments with an assurance to clear ..... X X X X Extracts X X X X X X X X Extracts X X X X
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