TMI Blog2019 (9) TMI 1056X X X X Extracts X X X X X X X X Extracts X X X X ..... ery forum. The instant case is not a fit case to admit and it is liable to be dismissed - application dismissed. - C.P. (IB) No. 85/BB/2019 - - - Dated:- 5-7-2019 - SHRI RAJESWARA RAO VITTANALA, MEMBER (JUDICIAL) AND DR. ASHOK KUMAR MISHRA, MEMBER (TECHNICAL) For The Petitioner : Ms. Priya Jaiswal For The Respondent : Mr B. Keshava Murthy ORDER Per : Rajeswara Rao Vittanala, Member.(J) 1. C.P. (IB) No.85/BB/2019 is filed by M/s Uday Constructions ('Petitioner/Operational Creditor') under Section 9 of the IBC, 2016, R/w Rule 6 of the I B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Inso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve raised the Invoice dated 18.03.2016 for a sum of ₹ 8,05,672/-(Rupees Eight Lakhs Five Thousand Six Hundred and Seventy Two Only) for the above said work. Towards the said work, the Respondent paid an advance amount of ₹ 2,67,400/-(Rupees Two Lakhs Sixty Seven Thousand Four Hundred Only). After the receipt of the advance amount M/s. Uday Constructions, duly completed the work so allotted and the same was also acknowledged by the Respondent. (4) However, when the Respondent failed to make any payment, M/s. Uday Constructions, thereafter, got issued a letter dated 15.11.2017 asking for payment of the balance amount. Only after the receipt of the notice dated 15.11.2017, the Respondent replied by a letter dated 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey have taken consultant service of one Mr. Ragunandan as CEO of the Company to function including HR, IT Finance and business development and to discharge of liabilities. In-spite of the above steps taken by the Corporate Debtor, the Corporate Debtor has filed the instant petition. The Operational Creditor not approached this Tribunal with clean hands, and viewed from any anglem the above Petition does not survive for consideration and liable to be dismissed. 4. Heard Ms. Priya Jaiswal, learned Counsel for the Petitioner. We have carefully perused the pleadings of the parties and the extant provisions of the Code and the Law on the issue. 5. The Learned Counsel for the Petitioner claimed in the petition that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... outstanding alleged amount. The Hon'ble Supreme Court in the case of Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd. (2018) 1 SCC 353 has inter alia, held that IBC, 2016 is not intended to be substitute to a recovery forum. In another latest judgment rendered in Transmission Corpn. of A. P. Ltd. v. Equipment Conductors Cables Ltd., (CA No. 9597 of 2018) dated 23rd October, 2018, 147 CLA 112 (SC) Supreme Court of India, it is inter alia held that existence of undisputed debt is sine qua non of initiating CIRP. As per para 34 of judgment, it is stated that Adjudication Authority, while examining an application filed under Section 9 of the Code, will have to determine: (a) Whether there is an 'operational d ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
