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Manipal Tech withdraws bankruptcy plea against Reliance Communications

The company had alleged that the money was not paid as RCom claimed that the invoices were raised in the name of HP Financial Services and not RCom

Press Trust of India  |  New Delhi 

Reliance communication, rcom
Photo: Reuters

has withdrawn a against before National Company Law Appellate (NCLAT) claiming dues.

appearing for informed NCLAT bench this week that they have instructions to withdraw the

This was not even opposed by the appearing for RCom.

"The is disposed of as withdrawn," noted a two-member bench of NCLAT Justices AIS Cheema and Balvinder Singh, in its order.

On November 15, NCLAT had issued a notice to RCom over the petition filed by the Karnataka-based company, which had claimed dues of Rs 27.4 million for the biometrics fingerprint scanners supplied to Rcom in 2016.

The company had alleged that the money was not paid as RCom claimed that the invoices were raised in the name of HP Financial Services and not RCom.

Earlier, had approached National Company Law Tribunal, Mumbai, which on September 25, 2017 rejected Manipal's plea accepting RCom's argument, saying that RCom has no obligation to pay the amount.

Following this, moved NCLAT.

Manipal Tech had approached NCLT under section 9 of the Insolvency and Bankruptcy Code 2016 to recover Rs 27.4 million.

According to the facts as mentioned in the NCLT order, the company had supplied scanners and the bills were raised against (HP)

As the goods have been supplied to RCom and there is an undertaking for the payment of the same by RCom, it had moved against RCom instead of HP Financial Services against whom the bills were raised.

NCLT had rejected the plea saying "it does not appear that RCom is under obligation to make payments towards the bills raised against Financial Services India Pvt. Ltd." and asked it to approach a civil court for the same.

First Published: Fri, February 16 2018. 20:02 IST
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