TMI Blog2019 (3) TMI 878X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor of the shortfall in the quantity received. At this stage, raising such a dispute as a defence to ward off the resolution process is unsustainable. There is nothing on record to directly indict the Operational Creditor of being accused or being held guilty for the short supplies. Even otherwise, in the event of short supplies under the 3 invoices, the liability would be far in access of the threshold required for initiating the CIR process against the Corporate Debtor for non-payment of the dues. The claim that recoveries on the alleged ground of shortfall in supplies is vague and unenforceable. The dispute sought to be raised does not justify rejection of the petition. In view of the same, this petition merits consideration and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s been filed in the required format and duly complies with the requirements of Section 9(3)(b) and 9(3)(c) of the Code. It is also submitted that the Corporate Debtor did not respond to the demand notice issued under Section 8 of the Code. 3. On entering appearance, the Corporate Debtor has filed his reply and has disputed the claim made. They dispute the amount of ₹ 34,33,750/- claimed in the present as being highly inflated. The demand for interest is also impugned on grounds that there was no agreement for payment of interest. The ledger maintained by the Operational Creditor is stated to be inaccurate. Above all, it is stated that there has always being a short supply of the material. The parties have had a long-standing busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Creditor. There is nothing on record to accuse the Operational Creditor of the shortfall in the quantity received. At this stage, raising such a dispute as a defence to ward off the resolution process is unsustainable. There is nothing on record to directly indict the Operational Creditor of being accused or being held guilty for the short supplies. Even otherwise, in the event of short supplies under the 3 invoices, the liability would be far in access of the threshold required for initiating the CIR process against the Corporate Debtor for non-payment of the dues. The claim that recoveries on the alleged ground of shortfall in supplies is vague and unenforceable. 6. The dispute sought to be raised does not justify rejection of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. 7. The Operational Creditor has not proposed the name of any IRP. We therefore appoint Mr. Rameshwar Dayal, Registration No. IBBI/IPA-001/IP-P00273/2017-18/10517, email: rdayal67@yahoo.com, Mobile No : 9818003199 who is duly empanelled with the IBBI as an Interim Resolution Professional. He is directed to take all such steps as are required under the Code, more specifically Sections 15, 17, 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
