9911796707
TMI Blog2020 (1) TMI 1077X X X X Extracts X X X X X X X X Extracts X X X X ..... ess ("CIRP") against the Respondent. 2. The Applicant has averred as follows: a. In the year 2011 the Corporate Debtor approached the Operational Creditor for the construction work of their office in Gurugram. b. On 23.07.2011, the Operational Creditor via email sent the costing details along with the work description of the construction site to the Corporate Debtor. c. On 20.08.2011, Operational Creditor had a meeting with Corporate debtor wherein the latter accepted rates raised by the Operational Creditor and gave the construction work a go ahead. d. On 23.08.2011, via email, the Operational Creditor provided the minutes of the meeting held on 20.08.2011 with the Corporate Debtor and the other contractors employed by the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the delay in payment and requested the Operational Creditor for some time. l. The Operational Creditor through Counsel issued a legal notice to the Corporate Debtor company on 11.02.2016 which was received by them, despite which the same was not replied to by them. m. On 12.02.2018, the Corporate Debtor made a part payment of Rs. 1,00,000/- to the Operational Creditor leaving an amount of Rs. 11,02,527 still due and payable. n. During March 2018- January 2019 the Operational Creditor made several calls to the Corporate Debtor for the outstanding amount but no reply received. On 19.02.2019 the Operational Creditor sent a demand notice demanding payment under Rule 5 of the Insolvency and Bankruptcy (Application to adjudicating Authority) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of account and ledger showing the balance payment of Rs. 12,02,527/- as due and payable at the end of each financial year. That subsequent to the payment of Rs. 100000/- received on 12.2.2018, the balance due was reduced to Rs. 11,02,527/- which is the amount presently due, along with the interest. Further Corporate Debtor specifically admits in para 3 that the project and the works remain incomplete but not denied or raised any demure regarding the factum of the payment made on 12.2.2018. (b) Is there any pre-existing dispute? It is observed that Corporate Debtor nowhere in its reply ever mentioned about the defect in quality of goods or any other dispute regarding the same to the Operational Creditor. 5. In vi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the respondent. 6. However, during the pendency of the moratorium period in terms of Section 14(2) and 14(3) as extracted hereunder: (2) The supply of essential goods or services to the respondent as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 7. The duration of the period of moratorium shall be as provided in Section 14(4) of the Code and for ready reference reproduced as follows: (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resoluti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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