Not strictly true.
Bolan used to write poetry that he would read out during John Peel's show. Once T Rex became huge Bolan simply didn't have time to do it anymore and Peel took it as a personal insult having had the same thing happen to him with Rod Stewart around the same time. Peel actually went as far as to rubbish some of Bolan's singles when they were released because he was never comfortable with Bolan's new rockier direction. After that Peel decided not to let personal frienRABhips get in the way of business.
If you read Peel's autobiography he admits himself that the falling out between them came from both sides.