9911796707
TMI Blog2017 (9) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... 9; and the respondent is a 'Corporate. Debtor'. The CIN number of the petitioner is U74899DL1983PTC015562 and it is based at New Delhi. 2. The Corporate Debtor 'Angel Infrarealcon Private Limited' has been incorporated on 08.02.2013. Its CIN number is U70200DL2013PTC248063. Its authorized and paid up share capital is Rs. 1,00,000/- and it is based at J-118, Ashok Vihar, Phase-I, New Delhi-110052. 3. The total amount of debt claims to be Rs. 16,86,180/- on account of a decree passed under Order XXXVII of Civil Procedure Code in Suit No. 473/2014 titled as 'Capri Bathaid Private Limited v. Angel Infrarealcon Private Limited' by Shri Kuldeep Narayana, Additional District Judge, Shahdara District, Karkardooma Court, Ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his able assistance. A perusal of the order dated 05.05.2015 passed by the learned Additional District Judge, Shahdara District, Karkardooma Court, Delhi shows that the respondent has been regularly placing order with the petitioner for supply of sanitary hardwares, water supply pumps filtration etc. which the petitioner has duly supplied against invoices. Those invoices have been placed on record of the suit which starts from 02.09.2013 to 07.01.2014. The respondent to discharge, its liability had issued three cheques and the detail of the same is as under:- S. No. Cheque number Dated Amount Drawn on 1. 086296 27/05/2014 Rs. 3,00,000/- Mahamedha Cooperative Bank, Ghaziabad 2. 086300 28/05/2014 Rs. 5,00,000/- 3. 087760 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs. 11,07,954/- in cash to the plaintiff. It is also not denied by the defendant that the transaction had taken place as per the invoices detailed out in paragraph no. 4 of the plaint. The issuance of aforementioned three cheques towards discharge of its liability has also not been disputed by the defendant. Though it is stated by the defendant that there are many triable issues which cannot be decided without leading evidence, the fact remains that not a single issue could be demonstrated by the defendant which require leading of evidence. 10. In the entire circumstances, I do not find any merits in the application under Order 37 Rule 3(5) CPC moved on behalf of the defendant. The facts disclosed by the defendant do not indicate any su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The judgment and decree of the Civil Court in a suit filed under Order XXXVII CPC clearly shows that the operational debtor is in default when the amount has not been paid on the demand raised by issuing a demand notice under Section 8 of the Code. The provisions of Section 123(1)(2) of the Insolvency Act, 1986 of England is relevant in this regard. Section 123(1) of the English Act talks of inability to pay debts if in execution or other process issued on a judgment, decree or order of any Court in favour of a Creditor of the Company is retuned unsatisfied in whole or part then a Company is deemed unable to pay its debts. A seemingly similar expression has been used in Section 3(12) of the Code describing it as default which can be read w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstruction 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." 12. It is made clear that the provisions of moratorium shall not apply to transactions which might be notified by the Central Government or the supply of the essential goods or services to the Corporate Debtor as may be specified is not to be terminated or suspended or interrupted during the moratorium period. 13. The Interim Resolution Professional shall perform all his functions religiously and strictly which are contemplated, inter alia, by Sections 15, 17, 18, 19, 20 & 21 of the Code. He must follow best practices availa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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