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TMI Blog2019 (9) TMI 1665X X X X Extracts X X X X X X X X Extracts X X X X ..... e Corporate Debtor (CD), based on the transactions which have transpired as between the parties as detailed in Part-IV of the Petition in relation to the supply of CRGO Laminations of various grades between the period from February, April 2015 to March, 2016, The amount as reflected in Part-IV of the Application as the amount in default is of Rs.1,68,76,753/- on account of non-payment of amount in addition to the interest @ 18 PA is also claimed. From the Petition, it is evident that the Operational Creditor is a Company registered under the provisions of Companies Act, 2013 and in relation to the Corporate Debtor, it is stated that the CD was incorporated on 27.10.1988 with the Authorized Capital of Rs.6,00,00,00,000/- and the Paid -up Sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Tribunal are time barred as last payment was made by the CD as per the Ledger statement produced by the CD on 15.10.2015 in a sum of Rs.1,26,80,105/-. In addition, the quality of goods which was supplied by the OC to CD is also claimed of sub-standard quality. Ld. Counsels for the parties were heard and during the course of submissions, Ld. Counsel for the Petitioner in relation to the objections, raised by the CD on the points of limitation seeks to rely on Article-| Schedule of Limitation Act and represents that since there has been dispute as between: the OC & CD, the period of limitation should commence from the end of particular Financial year and in the instant case from 31.3.2016 and seeks to rely on the Judgments of Hon'ble High ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... technical objection is also taken on the part of CD in relation to the authorization as has been granted to the ARs who has filed this Petition, to which, Ld. Counsel for the Petitioner points out that in any case a copy of the Board Resolution in relation to the AR has been duly enclosed along with the Petition. In the circumstances, in relation to the technical objections raised, by the CD in relation to the authorization, it does not have any credence. However, in relation to angle of limitation, this Tribunal is bound by the decision of Hon'ble Supreme Court rendered in B.K. Educational Services Private Ltd vs. Parag Gupta and Associates, 2018 SCC On Line SC 1921, more particularly, in relation to IBC, 2016 and it is evident that eve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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