TMI Blog2020 (1) TMI 468X X X X Extracts X X X X X X X X Extracts X X X X ..... d notice. The corporate debtor has not placed on record any document which exhibits the plausible dispute between the parties. Thus, there is no merit in the so-called dispute raised by the corporate debtor in reply to Section 8 demand notice and in the reply to the application. Further, this leaves no doubt that the default has occurred with respect to the payment of the operational debt of the applicant - thus, the application is complete as per the requirements of section 9 of the code. Further the date of default occurred from 31.08.2017 and hence the debt is not time barred and the application is filed within the period of limitation. Application admitted - moratorium declared. - CP (IB) No. 1488 (ND) of 2018 - - - Dated:- 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uant to that invoices were raised for the amount totaling to ₹ 66,00,860/- (Sixty-Six Lakhs Eight Hundred and Sixty Only) from the period January 2017 to August 2017. The Applicant submits that part payment of ₹ 35,68,484/- (Thirty-Five Lacs Sixty-Eight Thousand Four Hundred and Eighty-Four Only) was received from the corporate debtor against the pending bills. 4. The Applicant submitted that the balance confirmation of ₹ 30 plus lakhs was admitted by the corporate debtor vide email dated 27.07.2018. The invoices for the month of July/August 2017 and some other previous trips were ignored by the corporate debtor and thus the same has been accounted for final outstanding balance. 5. The Applicant submits t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he corporate debtor had stated that there was a poor and substandard performance on part of the applicant due to which the corporate debtor had suffered huge monetary losses and therefore had raised debit notes against the applicant. 8. The Applicant claims that as on date, the corporate debtor is liable to pay an amount of Rs. ₹ 33,69,997/- (Thirty-Three Lakhs Sixty None Thousand Nine Hundred and Ninety-Seven Only) i.e. ₹ 28,92,701/- (Twenty-Eight Lakhs Ninety-Two Thousand Seven Hundred and One Only) principal amount with overdue interest of ₹ 4,77,296 (Four Lakhs Seventy-Seven Thousand Two Hundred and Ninety-Six Only) which is due and payable as per Part IV of the application. 9. The Applicant has filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce. The applicant submits that the averments made by corporate debtor, that there is no outstanding balance is completely false as corporate debtor has itself confirmed via email dated 27.07.2018 giving outstanding balance which is ₹ 30 lakhs plus. 13. Having heard the learned counsel for the applicant and having perused the paper books submitted by the corporate debtor, it has been concluded from the contentions of the corporate debtor that the corporate debtor has tried to create and raise a pre-existing dispute by asserting that the entire gamut of dispute is amongst the applicant and the corporate debtor with respect to the quality of the product being rendered by the applicant and by annexing the debit notes which were n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P00948/2017-18/11568 (email -suresh@spjca.in) as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an IRP named who may act as an IRP in relation to the CIRP of the Respondent and specific consent is filed in Form 2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 in relation to specifically the corporate debtor and the applicant herein and make disclosures as required under IBB1 (insolvency Resolution Process for Corporate Persons) Regulations, 2016 within a period of one week from the date of this order. 18. We direct the Operational Creditor to deposit a sum of ₹ 2 lacs with the Interim Resolution Professional ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
