TMI Blog2020 (9) TMI 747X X X X Extracts X X X X X X X X Extracts X X X X ..... erson to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred - Thus, only if the claim falls within one of the three categories as listed above, can it be classified as an operational debt. If the amount claimed does not fall under any of the above categories, then the claim cannot be categorised an operational debt, even though there may be a liability or obligation from one person to another. This is a case where the existence of a jural relationship between the Operational Creditor and the Corporate Debtor has not been established. There is no claim in respect of any provision of goods or services. The respondent was expected to purchase a licence for public performance a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stered office is at B-302, Ujwal Serene, Survey No.273/1, Near Mauli Garden, Baner Road, Pune 411 045, in the State of Maharashtra. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed on 25.09.2018 before this Adjudicating Authority on the ground that the Corporate Debtor failed to make payment of a sum of ₹ 3,00,000.00 (Rupees three lakh only) as principal and ₹ 23,474.00 (Rupees twenty-three thousand four hundred and seventy-four only) as interest as on 20.03.2018, which is stated to be the date of default. 4. The case of the Operational Creditor is as follows: - (a) The Operational Creditor is the assignee of copyrights over certain sound recordings, consisting of a l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cord as Exhibit 'I' at page 9. The invoices do not provide for interest in case of delayed payments. Bank statements are attached as Exhibit 'D' at pp.13-91. The total debt due and payable to the Operational Creditor is ₹ 3,23,474.00 (Rupees three lakh twenty-three thousand four hundred and seventy-four only), as mentioned at page 95 of the Petition. 6. The Operational Creditor had served a Demand Notice in Form 3 dated 31.07.2018 to the Corporate Debtor (Exhibit 'I', pp.6-7) in terms of section 8 of the IBC. The Corporate Debtor has not replied to the Demand Notice. Necessary affidavit of No Dispute in terms of section 9(3)(b) of the IBC has been annexed at Exhibit 'III' at pp. 98. 7. The Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the Central Government, any State Government or any local authority. Thus, only if the claim falls within one of the three categories as listed above, can it be classified as an operational debt. If the amount claimed does not fall under any of the above categories, then the claim cannot be categorised an operational debt, even though there may be a liability or obligation from one person to another. 11. This is a case where the existence of a jural relationship between the Operational Creditor and the Corporate Debtor has not been established. There is no claim in respect of any provision of goods or services. The respondent was expected to purchase a licence for public performance and broadcast of songs, in respect of which the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
