2022 (11) TMI 506 - AT - Insolvency & Bankruptcy
Maintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - privity of contract - Operational Creditors - existence of debt and dispute or not - time limitation - HELD THAT:- The definition defines Operational Debt as a claim in respect of the PROVISION OF GOODS AND SERVICES. The expression ‘goods and services’ is preceded with the word ‘in respect of’. The materials on record does indicate that advance of Rs.60 lakhs was given by the Operational Creditor to the Corporate Debtor for availing the aviation services and with regard to which, however, no contract could be entered into between the Appellant and the Corporate Debtor. In the complaint, which has been filed before the Registrar of Companies by the Operational Creditor, details of correspondence after payment by the Operational Creditor to the Corporate Debtor has been detailed.
There has been repeated correspondence as encapsulated in the complaint, which indicate that there has been correspondence and various requests from the Operational Creditor to the Corporate Debtor with regard to goods and services. Thus, the correspondence as encapsulated shows that an amount of Rs.60 lakhs was advanced for providing goods and services to the Corporate Debtor. Neither goods and services could be provided, nor any Agreement could be entered between the Appellant and the Corporate Debtor.
The impugned order dated 06.01.2022 rejecting Section 9 Application on the ground that advance payment paid is not an Operational Debt deserves to be set aside and is hereby set aside - application is revived before the Adjudicating Authority to be heard and decided afresh after hearing both the parties.