ABHIVRIDYASYA ASSOCIATES PVT. LTD Vs. SAHAN ENTERPRISES

JUDGEMENT

(1.) Heard learned counsel Sri A.Venkatesh, representing learned Counsel Sri Allam Ramesh for petitioner and M/s. Resu Law Office appearing for the respondent.

(2.) The petitioner is a Private Limited Company incorporated under the provisions of the Companies Act, 1956 engaged in the business of supply of variety of goods. The respondent is a proprietary concern of Mr. Vedera Ravikanth Reddy and engaged in the business of various goods. In the year 2017 the proprietor of the respondent approached the petitioner with a request to supply various baby care products which include clothes, quality baby soaps, Baby oil, Baby powder, Mosquito net, toys, napkins Diapers etc. The respondent claimed that it has secured a sub-contract for supply of baby care products kits titled as "KCR Kits". The respondent assured that it shall pay the invoice amounts to the petitioner within a week's time from the invoice date. It was also agreed by the respondent that, in the event of delay in payment of invoice amount to the petitioner, the entire outstanding amount should be paid by the respondent along with an interest @8% per annum for the entire delayed period.

(3.) In terms of the agreement, the respondent placed orders for supply of Kits telephonically/personally through its proprietor and/or his representatives during the period from 2017 till 2019. Based on such orders, the petitioner supplied the materials from time to time and raised invoices. Total value of which comes to 7,61,51,841/- (Rupees seven crores sixty one lakhs fifty one thousand eight hundred and forty one only).