A S Sales And Exports Private Limited is undergoing liquidation. The Liquidator filed an application seeking directions to SAIL to release a payment of Rs. 6,63,499.98 outstanding in the Bank Account of A S Sales and Exports Private Limited and to return rejected materials valued at the same amount. SAIL had deducted Rs. 6,63,499.98 from other outstanding bills of the Corporate Debtor. SAIL argued that it was entitled to recover this amount under the terms of the contract, specifically citing a clause in the General Commercial Terms & Conditions for Purchase Contracts. The adjustment was made on August 27, 2020, prior to the initiation of the CIRP. SAIL also claimed that an amount of Rs.1,79,149.56 is still pending to be recovered from the Corporate Debtor.

A S Sales And Exports Private Limited is undergoing liquidation. The Liquidator filed an application seeking directions to SAIL to release a payment of Rs. 6,63,499.98 outstanding in the Bank Account of A S Sales and Exports Private Limited and to return rejected materials valued at the same amount. SAIL had deducted Rs. 6,63,499.98 from other outstanding bills of the Corporate Debtor. SAIL argued that it was entitled to recover this amount under the terms of the contract, specifically citing a clause in the General Commercial Terms & Conditions for Purchase Contracts. The adjustment was made on August 27, 2020, prior to the initiation of the CIRP. SAIL also claimed that an amount of Rs.1,79,149.56 is still pending to be recovered from the Corporate Debtor.