Dear Sir,
Our Company is engaged in manufacturing of Plastic Moulded Components and basically we are supplying the plastic Components to Samsung Only. However since due to decrease in Market we were not able to utilise our capacity and find out a new customer who is suppling to a known Consumer Durable Company.
We had done a business with the Company and supplied some plastic Components during the period of 5-6 for a total valueof Rs 1.25 crores, since during that time the business is running so that company was making payments timely within the credit period of 45 days. suddenly there were no orders from there side and the amount outstanding at that time was 72 lacs, we were following up with that company and during last 2-3 months we were able to recover only 10 lacs.
The Balance is still lying overdue and that company is not giving any response. However the Dies and Moulds supplied by that company for manufacturing of the plastic parts. That were sent to us on returnable basis. These are still holding by us and there apprx cost is Rs 1.75 Crores.
Kindly suggest how we can recover the overdue amount.
