ASB Glass Machinery & Equipment, the Operational Creditor, filed a petition against Gangidi Industries Limited ('GIL'), the Corporate Debtor, claiming a default of Rs.29,75,512/-, including interest. The Operational Creditor stated that it supplied glass washing machines and laminating machines to the Corporate Debtor, raising invoices that remained unpaid. The Corporate Debtor contested the petition, asserting that it had placed an order with Bhambra International, a sister concern of the Operational Creditor, and had made payments to Bhambra International, not directly to the Operational Creditor. The Corporate Debtor also claimed that the goods were not delivered as per the agreement and that there was no direct contractual relationship with the Operational Creditor.
ASB Glass Machinery & Equipment (Operational Creditor) claimed that Gangidi Industries Limited (Corporate Debtor) defaulted on payments totaling Rs.29,75,512/-, including interest of Rs.2,49,712/- at 24% p.a. The Operational Creditor supplied 8 FT Glass Washing Machine with Water Tank Accessories and Glass EVA Laminating Machine 6x10' with Accessories to the Corporate Debtor. Two invoices were raised: Invoice No.0006 dated 17.04.2018 for Rs.18,40,800/- and Invoice No.014 dated 12.06.2018 for Rs.8,85,000/-, totaling Rs.27,25,800/-. The Corporate Debtor claimed it placed an oral order with Bhambra International, a sister concern of the Operational Creditor, for glass manufacturing material. The Corporate Debtor also claimed to have paid Rs.30,00,000/- to Bhambra
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Corporate Debtor claims to have placed an…
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ASB Glass Machinery & Equipment, the Operational Creditor, filed a petition against Gangidi Industries Limited ('GIL'), the Corporate Debtor, claiming a default of Rs.29,75,512/-, including interest. The Operational Creditor stated that it supplied glass washing machines and laminating machines to the Corporate Debtor, raising invoices that remained unpaid. The Corporate Debtor contested the petition, asserting that it had placed an order with Bhambra International, a sister concern of the Operational Creditor, and had made payments to Bhambra International, not directly to the Operational Creditor. The Corporate Debtor also claimed that the goods were not delivered as per the agreement and that there was no direct contractual relationship with the Operational Creditor.
ASB Glass Machinery & Equipment (Operational Creditor) claimed that Gangidi Industries Limited (Corporate Debtor) defaulted on payments totaling Rs.29,75,512/-, including interest of Rs.2,49,712/- at 24% p.a. The Operational Creditor supplied 8 FT Glass Washing Machine with Water Tank Accessories and Glass EVA Laminating Machine 6x10' with Accessories to the Corporate Debtor. Two invoices were raised: Invoice No.0006 dated 17.04.2018 for Rs.18,40,800/- and Invoice No.014 dated 12.06.2018 for Rs.8,85,000/-, totaling Rs.27,25,800/-. The Corporate Debtor claimed it placed an oral order with Bhambra International, a sister concern of the Operational Creditor, for glass manufacturing material. The Corporate Debtor also claimed to have paid Rs.30,00,000/- to Bhambra
…Corporate Debtor claims to have placed an…
Operational Creditor…