TMI Blog2019 (6) TMI 831X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be maintained. The IBC, 2016 is a code by itself and a petition should succeed or fail in terms of the provisions contained judgments pronounced by judicial authorities as to the competency of a sole proprietary concern to initiate legal proceedings in its own name, as has been done herein, may not be out of context. Petition dismissed. - I. B. No. 08 /JPR/ 2018 - - - Dated:- 8-3-2019 - R. VARADHARAJAN Judicial Member Susshil Daga and Akansha Noval for the petitioner. Naresh Kumar Sejvani for the respondent. ORDER Synergy Marketing INC, a sole proprietary concern has filed this petition represented by its sole proprietor, Mr. Jitendra Nigam against the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under the provisions of the IBC, 2016 seems to have been served on the corporate debtor along with particulars of operational debt. However, the same has elicited no response as stated by way of notice of dispute other than an e-mail being sent dated August 6, 2018 as annexed with the affidavit filed by the operational creditor on October 4, 2018 wherein, it has been stated that payments will be made on or before March, 2019. In view of the non-payment of the amounts due as well as notice of dispute not being sent, this petition has been filed on August 1, 2018 before this Bench of the Tribunal by the operational creditor/petitioner. 3. Perusal of the record of the proceedings of this Tribunal shows that on being afforded with an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not to claim the amount under the abovesaid invoices and that it was also agreed that the outstanding amount is not the one which had been claimed by the operational creditor and that the settled amount worked out to ₹ 1,56,726 and that the corporate debtor is willing to settle the same provided the corporate debtor is willing to accept even in relation to the invoices in which the acknowledgment of receipt of goods has been accepted. It is contended by the corporate debtor that the persons who acknowledged have acted in collusion with the operational creditor and hence the same is disputed. 5. A plea has also been taken in opposition to the petition that the petition has not been filed by an authorised and competent person as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal creditor, it is first required to notice the definition of operational creditor as given under the provisions of the IBC, 2016 and which is to the following effect : 'operational creditor' means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred. 7. From the above definition of an operational creditor as given under section 5(20), it is evident that a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred is competent to file a petition in relation to such operational debt due and defaulted. Person has been defined under section 3(23) which is to the following eff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the provisions contained judgments pronounced by judicial authorities as to the competency of a sole proprietary concern to initiate legal proceedings in its own name, as has been done herein, may not be out of context. Thus, it is seen that in the matter of Svapn Constructions v. IDPL Employees Cooperative Group Housing Society Ltd. [2006] 127 DLT 80 the hon'ble High Court of Delhi in relation to arbitration proceedings and wherein a petition for appointment of an arbitrator under section 11(6) of the Arbitration and Conciliation Act, 1996 had been filed by a sole proprietorship concern and in relation to which an objection was raised by the other side as to its maintainability as a sole proprietorship concern cannot be considered a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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