Non Payment of dues
Amit
(Querist) 25 May 2016
This query is : Resolved
Hello
Our firm has supplied engineering goods worth 7. 65 lacs to a Pune based engineering firm. Ours is an SSI unit based on Kolkata. Materials supplied in 3 lots, 35% in July 2015, 35% in September 2015 and 30 % in December 2015. Despite several letters and email reminders for payment they did not reply. Whenever we called, they only assured that payment will be done shortly.
Now their stipulated payment terms was 30 days credit as per order. Since last supply on December it is already over 5 months. Also there no such additional cause of interest for late payment was mentioned in our tax invoice. Only jurisdiction in Kolkata court mentioned.
Few weeks ago they only released 1.5 lacs through RTGS. But still we have more than 6.15 lacs due.
Now our client is a multicrore construction giant and we apprehend to take any legal recourse as it will be cumbersome for our small unit. But we have decided to let go this client as this was our first and last transaction.
However please suggest our stand, what we should do, if we proceed legally?
Thanks
Amit
Kumar Doab
(Expert) 25 May 2016
There is no wisdom in giving up the pending dues and suffering loss.
It shall be certainly better to show all docs and communications to an able counsel at Kolkota and let your counsel examine and opine.
Amit
(Querist) 25 May 2016
Sir, cann't we approach differently to the situation ? Any suggestion with out involving legal measures ? However what is the standard procedure to begin with ?
Thanks
Amit
Kumar Doab
(Expert) 25 May 2016
Consulting does not mean legal recourse is initiated.
It shall be certainly better to show all docs and communications to an able counsel at Kolkota and let your counsel examine and opine.
Rajendra K Goyal
(Expert) 27 May 2016
Author,
You can take appropriate step as per your business customs.
This forum can suggest legal steps.
