Merely citing the interest rate in the invoices by itself wouldn’t render it legally binding for the Corporate Debtor – Rohit & Company Operational Creditor of Corporate Debtor – NCLT New Delhi Bench Court-VI
NCLT New Delhi Bench Court-VI held that:
(i) With respect to the issue of claim filed by the Operational Creditor, it is observed that merely citing the interest rate in the invoices by itself wouldn’t render it legally binding for the Corporate Debtor, as the purchase orders do not bear the signature of the Corporate Debtor anywhere. The RP has taken a conscious view by verification of claim keeping in view the terms of the purchase orders and the books of account of CD (which only included the principal amount) and the principal amount was duly admitted by the RP and was part of IM.
(ii) Regarding the issue of not providing Form C for the Central Sales Tax Act, as requested by the Applicant to the RP, it is observed that the Form C relates to the period of 2013-2015, which is before the commencement of CIRP. The RP stated that despite his best efforts, he couldn’t locate those documents. The Applicant should have obtained Form C from the erstwhile management of the Corporate Debtor during that time.
