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TMI Blog2020 (1) TMI 468X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') by M/S Kapoor Logistics (for brevity ;Applicant') with a prayer to initiate the Corporate Insolvency process against Flywheel Logistics Solutions Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a proprietorship concern having PAN AEIPK4449P, having its office at A -26, Shivam Apartment, Vikas Puri, New Delhi-110018. The Corporate Debtor is a limited company incorporated under the provisions of the Companies Act, 1956 on 17.12.2015 having CIN U6023DL2015PTC288609 as per Master Data and having registered office at F-213/E-1, Old B. Road, Lado Sarai, New Delhi-110030. The Authorized Share Capital of the Corporate Debtor is Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red and Ninety-Seven Only) i.e. Rs. 28,92,701/- (Twenty-Eight Lakhs Ninety-Two Thousand Seven Hundred and One Only) principal amount with overdue interest of Rs. 4,77,296 (Four Lakhs Seventy-Seven Thousand Two Hundred and Ninety-Six Only). The said notice was served through speed post as well as via email as reflected in master data of MCA website and has been received by the corporate debtor. 7. The Corporate Debtor has replied to section 8 notice thereby denying its liability to pay an outstanding amount of Rs. 33,69,997/- and contended that the services rendered by the applicant were settled for a sum of Rs. 35,68,484/- and further that the last payment made by the corporate debtor was on 22.08.2017 amounting to Rs. 12,02,266/- for sett ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e arrangement between the applicant and corporate debtor was on a temporary basis. 11. The Applicant has filed a rejoinder to the reply of the corporate debtor and has submitted that corporate debtor has submitted that as they have not received the invoices the application is not maintainable. Thus, the statement of corporate debtor in its reply to the demand notice and in its reply to the petition are contradictory. The applicant submits that two agreements for running route vehicles were entered between corporate debtor and applicant dated 20.01.2017 and 01.04.2017 relate to period from 20.01.2017 to 20.01.2019 and are already enclosed to the application. 12. The Applicant further submitted that the debit notes were never issued earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.08.2017 and hence the debt is not time barred and the application is filed within the period of limitation. 15. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 16. The present application is complete and perusing the documents on records it goes beyond doubt that the Applicant is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. In the light of above facts and records the present application is admitted. 17. The Applicant has named the Insolvency Resolution Professional, to be appointed by the order of Tribunal, as Mr. Suresh Kumar Goy ..... X X X X Extracts X X X X X X X X Extracts X X X X
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