Venus Furniture Vs. AUM Structbuild Pvt. Ltd. [C.P. (I.B) No. 285/9/NCLT/AHM/2018] - Synopsis
Team SoOLEGAL 24 Mar 2021
In this case, Venus Furniture Vs. AUM Structbuild Pvt. Ltd. [C.P. (I.B) No. 285/9/NCLT/AHM/2018], against purchase orders issued by the Corporate Debtor for supply of Godrej Lab Furniture and office furniture on 21-12-2016 and 26-12-2016 against which tax invoices were raised on 30-03-2017 and 02-03- 2017 totalling to Rs. 2,76,17,772/- out of which Corporate Debtor had paid Rs. 2,22,32,000/- and the balance amount which was unpaid along with interest amounted to Rs. 79,19,876/-. The Operational Creditor followed the proper procedures required by Insolvency Bankruptcy Code, 2016, and in spite of that the Corporate Debtor did not respond to the notice issued under Section 8 of IBC 2016. On the date of the hearing, July 9,2018, the Corporate Debtor had requested two weeks' time, which was granted. On July 26, 2018, the Corporate Debtor asserted that there was a prior dispute, which could not be proven and argued that no provision for delayed payment was included in any of the invoices.

According to the Court, it was determined that the provisions of Section 9(5) (a) to (c) of Insolvency Bankruptcy Code, 2016 were fulfilled in this case. A bank statement was created as required by Section 9(3)(c) of the Code. Respondent had failed to file any evidence pertaining to a previous dispute. As a result, the applicant's application was complete in all legal aspects hence, the case was accepted.

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