TMI Blog2019 (1) TMI 577X X X X Extracts X X X X X X X X Extracts X X X X ..... egulations) with regard to admission of this application under Section 9 of the Code - We also declare moratorium in terms of Section 14 of the Code. - Company Petition no. (IB)-976(ND)/2018 - - - Dated:- 7-1-2019 - MS INA MALHOTRA, MEMBER (JUDICIAL) AND MS. DEEPA KRISHAN, MEMBER (TECHNICAL) For The Petitioner : Mr Prasouk Jain, Mr. Karan Sinha And Mr Subharanshu Mohapatra, Advocates For The Respondent : Mr. Anusuya Salwan And Ms. Nikita Salwan ORDER MS. DEEPA KRISHAN. Member (T) 1. This is an application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016 (f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Corporate Debtor to make the payment of ₹ 49,25,756/- along with interest of 10% per annum, from the date the payments were due till actual realization of the amount, within a period of 15 days. 7. The applicant further stated that since full payments were not made, the applicant issued demand notice under Section 8 of the Code on 09.06.2018 in which the amount due was shown as ₹ 62, 76,806/- along with future interest @ 10% per annum till realization on the total outstanding. The Respondent replied to the said demand notice on 03.07. 2018.1t is also stated that although work order for Consultancy Services and Design Engineering Services with specific scope of work had been awarded to you for our different projects in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12 onwards and the last invoice generated by Operational Creditor on 31.01.2017. As per the ledger account filed with the application, the applicant raised invoice for technical design services provided from 10.01.2012 onwards till 09.11.2015. The last payment was received on 16.05.2015. Subsequently also the applicant raised further invoice till 31.01.2017 of ₹ 28, 59, 158/-. As per the ledger account the Amount outstanding is 49, 25,756/-. 9. The respondent in its reply to the petition has raised a dispute regarding the claim of the applicant. It is stated that there were some diffrences between the parties regarding the pending amount and they came to a settlement and accordingly ₹ 28, 49,168/- was paid as full and final s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to be raised thereafter. The details of the said invoices are given below: a. Invoice dated 04.03.2016 for ₹ 1,94,650/- b. Invoice dated 29.09.2016 for ₹ 2,93,250/- c. Invoice dated 21.12.2016 for ₹ 17,36,500/- d. Invoice dated 31.01.2017 for ₹ 6,33,375/- 12. During oral argument the Corporate Debtor has stated that the invoices raised in 2016 were included in the payment made in December 2015. This argument appears far-fetched. As part of the rejoinder the E-mail correspondence between the parties corresponded between the parties in the year 2016-17 have also been filed before us. Their email correspondence shows that a final settlement had not been reached between the parties and there invoices co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed: (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action 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 occu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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