TMI Blog2019 (7) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... The objections are all after receiving demand notice and no concrete proof shown of debit notes as raised by Corporate Debtor being sent and received by applicant. The defence raised of dispute is lame and without any supporting evidence can be categorised as moonshine dispute. The default occurred from 22.03.2017, from the date of issue of loan recalling notice and demanding payment of debt hence the debt is not time barred and the application is filed within the period of limitation - the present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt. In the light of above facts and records the present application deserves to be admitted. Application admitted in terms of Section 9(5) of IBC, 2016 and moratorium as envisaged under the provisions of Section 14(1) shall follow in relation to the Corporate Debtor prohibiting all of the actions mentioned under section 14(1)(a) to (d). - COMPANY PETITION No (IB)-05/JPR/2018 - - - Dated:- 17-5-2019 - DR. DEEPTI MUKESH, MEMBER (JUDICIAL) For The Applicant : Mr Prashant Agrawal and Prashant Sharma Fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Debtor chose not to file reply but thereafter paid an amount of ₹ 1,46,346/- and ₹ 2,11,685/- dated 19/05/2018 and 08/06/2018 leaving balance of an amount of ₹ 20,16,921/- till the date of this application. 5. The applicant therefore filed present application under section 9 of Code, 2016 and duly served the corporate debtor. 6. The total amount claimed by the applicant as mentioned in part IV is a sum of ₹ 16,95,981/- plus interest ₹ 3,20,940/- total amounting to ₹ 20,16,921/- as an outstanding amount which is due and payable by the corporate debtor as described below: PART IV Sl. No. Particulars of Operational Debt 1. Total amount of debt, details of transactions on account of which debt fell due, and the date from which such debt fell due. 2. Amount claimed to be in default and the date on which the default occurred Total amount of debt claimed to be in defa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ain, the details of invoices and corresponding debit notes are annexed at Annexure R-2. L. That the Corporate Debtor and applicant had a meeting in August, 2018 after receiving notice under section 8 and as per mutual settlement, after resolving discrepancies/deficiencies with regard to quality/quantity and time schedule of supply of goods, the payments were released by the Corporate Debtor. The amount payable by the Corporate Debtor to the applicant of ₹ 3,58,031/- was paid and hence now nothing is payable. M. The applicant has made directors of the Corporate Debtor as parties and/after filing application has filed revised memo of parties. 8. The applicant has filed rejoinder controverting statements made in the reply and reiterated the contentions of the application. The applicant submits that the technical objections raised by the Corporate Debtor with respect to the application being complete are met with and wherever required after taking permission from the Bench they have filed the amended/corrected documents accordingly, the technical objections raised by the corporate debtor met by the applicant are as follows: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the applicant and whatever due to the applicant was paid leaving no dues, hence nothing survives; further first time in sur rejoinder raising issue that some lab test was done with respect to quality of the goods without even single document of lab report or any other documentary evidence placed on record in support to said contention; (vi) Lastly, placing copy of extract of register recording the visit of the representative of the applicant in the month of April and May, 2018. The documents annexed in the sur rejoinder were never even whispered of till the rejoinder is filed, leads to conclusion as being the fabrication of the grounds as much after thought, to escape the admission of application. 10. The learned counsel for the parties has placed detailed arguments. Following points are to be considered for discussion: (a) Whether the debt and default are challenged by corporate debtor. (b) Whether the dispute as raised by the corporate debtor is genuine or can be categorised as moonshine dispute. 11. As seen from above the corporate debtor has admitted the goods supplied, invoices rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le High Court of Rajasthan held as follows: The fact which arises for attention is that the goods were supplied in August and September, 2009 and the objection as to their purported quality was raised in October, 2011. No steps under the Sale of Goods Act, 1948 either to reject the supposedly sub-standard goods or seek a diminution of their price appears to have been taken by the respondent company. Obviously, the goods in issue as supplied being consumed, they were not sub-standard. A belated half-hearted dispute indicates that the allegation of goods supplied being sub-standard was/is not bona fide and the respondent company has no substance in its defence at all. The defence set up in the reply dated 29.10.2011 to the notice under section 434 of the Act of 1956 was/is vague and quite apparently is belated one incapable of any credibility. 14. In the matter of Topsgroup Services Ltd. v. BLS IT-Services (P.) Ltd., Hon ble NCLT, New Delhi held as follows: Respondent has taken the stand that there is existence of dispute with respect to the debt and demand in question. There has been no clear communication of dispute to the applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) and 14(3), as mentioned in the code. 21. The order of moratorium shall have effect from the date of this order till the completion of the corporate insolvency resolution process. Provided that where at any 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. 22. The Interim Resolution Professional shall perform all his functions contemplated, inter alia, by Sections 15,17,18,19, 20 21 of the Code and transact proceedings with utmost dedication, honesty and strictly in accordance with the provisions of the Code , Rules and Regulations. It is further made clear that all the personnel connected with the Corporate Debtor, its promoters or any other person associated with the Management of the Corporate Debtor are under legal obligation under Section 19 of the Code to extend every assistance and cooperation to the Interim Resolution Professional ..... 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