TMI Blog2018 (12) TMI 1311X X X X Extracts X X X X X X X X Extracts X X X X ..... ersons. It is pertinent to note that the Corporate Debtor raised theses disputes after the receipt of the demand notice and no correspondence prior in time to the demand notice about the disputes have been brought on record. The defence taken by the Corporate Debtor is not covered in pre-existing dispute in the light of law laid down by the Hon'ble Supreme Court in the case of Mobilox Innovations Private Limited (2017 (9) TMI 1270 - SUPREME COURT OF INDIA). The application made by the Petitioner clearly shows that the operational debt has not been paid even after the service of demand notice. The disputes raised belatedly are not tenable in law. In compliance of Section 9(3)(b) and Section 9(3)(c), Bank statements and affidavit of no di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. As per the Petitioner, books were supplied to the Corporate Debtor. After making some payment initially, the Corporate Debtor started default in making the payment despite the books received. The Corporate Debtor has received the invoices raised by the Operational Creditor and also confirmed the quantity of books received. The Corporate Debtor vide its letter dated 31.10.2016 confirmed that as per its books of accounts as on 31.10.2016 there is balance outstanding of ₹ 27,15,942/- due to the Operational Creditor. The Corporate Debtor has issued six cheques totalling to ₹ 5 lacs as part payment but these cheques were dishonoured. The Corporate Debtor vide its letter dated 20.01.2017 acknowledged the dishonour of cheques and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Code stating that the Operational Creditor did not receive a reply to demand notice dated 30.10.2017 within the statutory time period of 10 days. The Petitioner has also placed on record the copies of invoices confirming the quantity of books received (pages no. 25 to 105) and the bank statements for period 03.05.2016 to 22.11.2018 showing that pending dues were not credited to the Operational Creditor's account. 6. Heard the parties and perused the material available on record. 7. During one of the hearings, the Counsel for the Corporate Debtor accepted that he has no objection if the petition is admitted in view of the precarious financial position. 8. It is observed that the Operational Creditor has duly supplied the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as also been annexed, therefore, the petition deserves to be admitted. 9. The Operational Creditor has proposed the name of Bhavi Shreyans Shah, having registration number IBBI/IPA-001/IP-P00915/2017-18/11521 for appointment as Interim Resolution Professional. The consent of the professional has been filed and there are no disciplinary proceedings pending against the professional. ORDER 10. This Bench hereby admits this petition filed under Section 9 of IBC, 2016, declaring moratorium with consequential directions as mentioned below: I. That this Bench hereby prohibits (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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