NCLAT dismisses insolvency plea against Wipro. Know more
₹13.43 crore. The appellant claims that it supplied the goods on time and raised various invoices.
However Wipro allegedly made payment of 97% of the value of the invoices. The remainder continued to be kept outstanding in spite of several reminders and a Demand Notice.
Wipro has denied the allegations, arguing that there is a pre-existing dispute between the parties. “It is the consistent stand of Wipro that 97% of the amount was paid and the balance 3% was kept on hold only on account of evaluating customer satisfaction and it was established that there was a delay of six weeks on behalf of the Appellant Company in executing the job assigned to them on account of which liquidated damages/Penalty of ₹40,56,539, which is as per the terms of the contract was levied," the NCLAT said.
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