TMI Blog2017 (7) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... utory notice of demand issued by the Operational Creditor. This petition is admitted and the matter be referred to Insolvency and Bankruptcy Board of India for appointment of Corporate Insolvency Resolution Professional and other procedures need to be followed. A moratorium would come in operation from today prohibiting relevant acts but would not affect the supply of essential goods or services to the Corporate Debtor and the same may be specified by the Insolvency Professional. It shall also not apply to transactions which might have been notified by the Central Government in consultation with any financial sector regulator. - C.P. NO. (IB) - 60(PB)/2017 - - - Dated:- 27-6-2017 - MR. M. M. KUMAR AND Ms. DEEPA KRISHAN, JJ. For The Respondent : Saurabh Kalia and Sanjay Grover ORDER 1. The 'Operational Creditor', M/s. Portrait Advertising Marketing Private Limited has filed the instant application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity the 'Code') with a prayer for initiating Corporate Insolvency Resolution Process against the 'Corporate Debtor'-M/s. Mothers Pride Dairy India Private Limited (for brevi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3,22,889.00) 4,15,410.00 Outdoor for 30 days OD/H08 00004/16-17 1-Aug-2016 17,825.00 17,825.00 Outdoor damage hoarding OD/H08 00005/16-17 1-Aug-2016 35,805.00 35,805.00 Outdoor damage hoarding OD/H08 00019/16-17 17-Aug-2016 12,81,100.00 12,81,100.00 Outdoor for 15 days MPD/001/PO/JW/16-17 29-Jun-2016 1,61,000.00 1,61,000.00 Vehicle Painting Extra Sec. Broadcast During period 50,590.00 50,590.00 Radio Ch. No. 597175 Ch. Date : 07/08 9,50,000.00 (9,50,000.00) - Print Media PDC Ch. No. 597176 Ch. Date : 07/08 3, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 4,95,485.00 4,95,485.00 Agency Service Charge Outdoor Activity AW/H080 037/16-17 31-08-2016 22,42,500.00 (14,69,000.00) 7,73,500.00 Invoice of Wall Painting AW/HO80 038/16-17 31-08-2016 2,24,250.00 2,24,250.00 Agency Service Charge for Wall Painting Total 2,31,01,876.00 (1,33,06,632.00) 97,95,244.00 Less : Print Media Pending Cheque cleared (30,45,714.00) Less : Cheque Received in behalf of Birthday Total Outstanding 64,49,530.00 The Operational Creditor-applicant has asserted that it has enga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re not considered for bill boards, wall paintings etc. There were efforts made to remove the grievances raised by the Corporate Debtor. On entirely different aspect reference has been made to other mails. Those are the emails sent by third party like one Gautam Jhanjee to the Operational Creditor for recovery of the amount on 07.12.2016 and 09.12.2016. 7. After perusal of the emails we find that there is no dispute sufficiently raised with regard to quality of service. All that could be made out from the perusal of the emails is that some dispute with regard to Dehradun hoarding/advertisement bills have been raised. After the date of the email transactions between the parties continued. There was no cessation of relationship. We are not impressed with the argument that there is an actual dispute and the quality or quantity of service were seriously doubted in such a manner that it may constitute a basis for defeating the initiation of Corporate Insolvency Resolution Process. It is well settled that one swallow does not a summer make. In other words, a small lapse will not be sufficient to decline the relief of initiation of Corporate Insolvency Resolution Process as claimed in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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