TMI Blog2020 (12) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... on which the amount claimed and that they have already credited an amount of ₹ 3,00,000/- which is not shown in the extract of the bank statement provided in the application. Hence the Operational Creditor is indenting to grab money illegally from the Corporate Debtor claiming an exorbitant interest. The statement made by the Corporate Debtor cannot be termed as a pre-existing dispute or plausible dispute. The present application is complete in all respects and the applicant is entitled to claim its dues. The applicant succeeded in establishing the default in payment of the operational debt beyond doubt. In view of the above, the instant petition deserves to be admitted. Petition admitted - moratorium declared. - IBA/21/KOB/2020 - - - Dated:- 23-11-2020 - Hon ble Shri Ashok Kumar Borah, Member (Judicial) For the Operational Creditor : Shri Jerin Asher Sojan, Advocate For the Corporate Debtor : Shri Vishnu Hari.K. Advocate ORDER This Insolvency and Bankruptcy Application has been filed by Antony Joseph Proprietor of En Tech ADP (hereinafter called Operational Creditor ) against M/s. ICICLES HVAC Experts Private Limited (hereinafter called the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Debtor stands at ₹ 6,68,134 - The said Total Operational Debt on Supply made Services rendered is due and payable from the date of each invoice to the Operational Creditor. 4. It is further stated that the Corporate Debtor has also availed input tax credit facility under the Goods and Service Act,1982 for the invoices raised by the Operational Creditor, which clearly establishes the fact that the goods supplied by the Operational Creditor have been accepted. 5. It is stated by the Operational Creditor that Form 3 Demand notice was sent to the Corporate Debtor on 05.09.2019 for the above-mentioned debt as per Section 8 of the Insolvency and Bankruptcy Code 2016, which was received by the Corporate Debtor on 06.09.2019. 6. It is also stated that the respondent has not disputed the amount of debt between the parties and relies on the judgment of the Hon ble Supreme Court in the case of Mobilox Innovations Pvt. Ltd. vs. Kirusa Software Pvt. Ltd. ((2018) 1 SCC 353). 7. The Corporate Debtor filed reply stating that the application is not maintainable before this Tribunal under Section 9 of I B Code since the resolution of dispute with respect to the claim do not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment has raised the threshold for applications to be filed before this Tribunal as ₹ 1,00,00,000/- (Rupees One Crore Only). 9. The Corporate Debtor is a company that carries out the works of AC installation on a large scale and are the channel partners of MNC Blue star. The Corporate Debtor used to purchase grills and other related products from the Operational Creditor and used to make payment on credit basis. It is further stated that there is no invoice raised towards supply of materials by the Operational Creditor to the Corporate Debtor on 13.05.2018 as stated by the Operational Creditor in the application. 10. Further it is stated that in the application regarding the details of Transactions on account of which debt fell due , the Operational creditor is claiming amounts for the invoices raised from 13.04.2018. However, the Corporate Debtor has made a credit of ₹ 3,00,000/- (Rupees Three Lakhs Only) in the account of Operational Creditor on two occasions (₹ 1,00,000/- on 26.04.2018 and ₹ 2,00,000/- on 28.05.2018) towards the transaction with the Operational Creditor. However, the Operational Creditor has clandestinely hidden/ignored these paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 days of receipt of the demand notice or copy of the invoice mentioned in sub-section (1), bring to the notice of the operational creditor the existence of a dispute or the record of the pendency of a suit or arbitration proceedings, which is pre-existing-i.e. before such notice or invoice was received by the corporate debtor. From the aforesaid judgement, it is evident that the existence of a dispute or the record of the pendency of a suit or arbitration proceedings should be pre-existing-i.e. prior to demand notice or invoice received by the Corporate Debtor . The moment there is existence of dispute, the Corporate Debtor gets out of the clutches of the I B Code . 15. In this case, this Tribunal did not come across any record which would show that a dispute that was pre-existing apart from that of a hypothetical or illusory dispute which has been raised by the Corporate Debtor . 16. Hence, it is clear that the Corporate Debtor has not raised any dispute relating to debt nor raised any dispute relating to quality of service of goods. They merely shown the difference of the date on which the amount claimed and that they have already credited an amount of ₹ 3,00, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period. b. That the provisions of sub-section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. c. That the order of moratorium shall have effect from the date of this order till the completion of the corporate Insolvency Resolution Process or until this Bench approves the Resolution Plan under Sub-Section (1) of Section 31 of IBC or passes an order for liquidation of corporate debtor under section 33 of IBC, as the case may be. d. That the public announcement of the corporate insolvency resolution process shall be made immediately as specified under section 13 of IBC. 20. That the order of moratorium against the Corporate Debtor shall have effect from the date of pronouncement of this order till the completion of the CIRP or until this Bench approves the resolution plan under Sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, as the case may be. 21. That the public announcement of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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