9911796707
TMI Blog2017 (7) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;-M/s. Mothers Pride Dairy India Private Limited (for brevity the 'Corporate Debtor'). 2. Brief facts of the case necessary for disposal of the controversy raised in this petition are that the Operational Creditor is a registered Company and is engaged in providing marketing and advertising services to its clients. Likewise, the Corporate Debtor is also a Company registered under the Companies Act, 1956. The Corporate Debtor in the year 2016 hired the Operational Creditor for providing marketing and advertising services for promotion of its Company. Accordingly, the parties entered into a contract dated 14.04.2016 and the Corporate Debtor availed the services for which invoices were raised by the Operational Creditor. The details ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07/08 3,55,480.00 (3,55,480.00) - Print Media PDC Ch. No. 597178 Ch. Date : 09/08 9,90,000.00 (9,90,000.00) - Print Media PDC Ch. No. 597179 Ch. Date : 09/08 9,90,000.00 (9,90,000.00) - Print Media PDC Ch. No. 597180 Ch. Date : 09/08 9,90,000.00 (9,90,000.00) - Print Media PDC Ch. No. 597181 Ch. Date : 09/08 9,39,140.00 (9,39,140.00) - Print Media PDC Ch. No. 597182 Ch. Date : 17/08 9,50,000.00 (9,50,000.00) - Print Media PDC Ch. No. 597183 Ch. Date : 17/08 3,42,269.00 (3,42,269.00) - Print Media PDC Ch. No. 597184 Ch. Date : 21/08 8,24,917.00 (8,24,917.00) - Print Media PDC Ch. No. 597185 Ch. Date : 28/08 9,25,000.00 (9,50,000.00) - Print Media PDC Ch. No. 597186 Ch. Date : 28/08 60,8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor. A copy of the notice has been placed on record (Annexure-1). The copies of the invoices have also been placed on record (Annexure- 2 colly). The copies of the ledger accounts from 01.04.2016 to 31.03.2017 have been placed on record too. A copy of the agreement dated 14.04.2016 for ATL and BTL services have also been added with the petition. 4. In response to the notice of the application served on the respondent a short reply dated 19.05.2017 has been filed. However, on account of ambiguities additional reply was filed on 24.05.2017. 5. The stand taken by the Corporate Debtor is that the vital facts have been suppressed from this Tribunal. The Corporate Debtor has attempted to clarify that it has raised various compl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... editor 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 sum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor." However, the order of moratorium 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. (iv) This order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process. (v) The Insolvency Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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