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TMI Blog2019 (11) TMI 1540X X X X Extracts X X X X X X X X Extracts X X X X ..... rt-I of the Application sets out about the Operational Creditor from which, it is evident that the Operational Creditor is a Private Limited Company with CIN:U28920TN1994PTC029091. Part-II of the Application gives all the particulars of the Corporate Debtor from which it is evident that the Corporate Debtor is a Private Limited Company with CIN:U55101TZ2008PTC014695 which was incorporated on 12.08.2008 and that its Authorised Capital and Paid up Capital is '27,00,00,000/- and '26,29,39,060/-respectively. The Registered Office of the Corporate Debtor as per the Application is stated to be situated at 164 and 165, Avanashi Road, Peelamedu, Coimbatore, Tamilnadu 641 004. Part-Ill of the Application shows that the Operational Creditor has proposed Interim Resolution Professional, whose particulars are given hereunder: Dr. L. Natarajan No.21, Jambulingam Street, Nungambakkam, Chennai - 600 034 [email protected] IBBI/IPA/001/IP-P00614/2017-2018/11108 3. From Part-IV of the Application, it is seen that a sum of Rs. 11,45,997- along with interest @ 18% is being claimed by the Operational Creditor as Operational Debt. The transactions given as to the amount claimed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cy Services showed a balance amount of Rs. 25,72,243/- as being due from the Corporate Debtor. Out of this amount, an amount of Rs. 20,94,828/- (Rupees Twenty Lakh Ninety Four Thousand Eight Hundred and Twenty Eight only) was due, after adjusting periodic payments made by the Corporate Debtor, apart from service tax and VAT claims. 9. The Operational Creditor had also submitted reimbursement claims for service tax and VAT refund to the Corporate Debtor. An amount of Rs. 4,40,970/- (Rupees Four Lakhs Forty Thousand Nine Hundred and Seventy only) was due as service tax reimbursement amount and an amount of Rs. 8,73,736/- (Rupees Eight Lakh Seventy Three Thousand Seven Hundred and Thirty Six only) was due as VAT reimbursement. Finally a total amount of Rs. 34,09,534/-(Rupees Thirty Four Lakh Nine Thousand Five Hundred and Thirty Four only) due, in respect of all the claims. 10. It was further submitted by the Operational Creditor that the Corporate Debtor had also issued a cheque dated 03.01.2018, for Rs. 4,90,000/- (Rupees Four Lakhs Ninety Thousand only), bearing reference number 797413, which was dishonoured on 06 March 2018. 11. The Operational Creditor has further submitted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aised by the Corporate Debtor. The Snag works notified to be completed by the Operational Creditor as per e-mail communication dated 15th May 2018 are elucidated hereunder: "From: Naga Subramanian KCmailto:ce@rdcoimbatore. com) Sent: 15 May 2018 15:09 To: [email protected] Cc: enao&rdcoimbatore. com Subject: ETA - Snag work Dear Joseph, Below following snag points to be closed by ETA Engineering. 1) WTP room 6 Numbers pressure guage not working. 2) External Hydrant Outer ring butterfly valve not properly getting close. 3) Near gas bank and north side irrigation filter house nearby hydrant wheel valve is not getting close. 4) 8th floor, 5th floor, 3rd floor, B2 - 1 inch fire reel hosing is not properly installed. 5) Fire system panel board 7 numbers lock is not working. Thanks & Regards, Naga SubramanianK Chief Engineer Tel: +91 422 2226000, Fax: +91 422 2226010. Mob: +91 9585595358 ce@rdcoimbatore. com www, radissonblu. com" The aforementioned pending work had not been completed as per follow up mail dated 18th June 2018 which is as follows: "From: Contracts [mailto:[email protected]) Sent: 18 June 2018 17:14 To: bsn@eta-enaa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time of filing of Compromise in respect of completion of snag works and further wanted to plead that there were no mention of that in the order passed by the Honourable Tribunal in disposing the matter 17. consequent to the compromise. The Operational Creditor had also stated in the said email that they would depute their personnel to attend to the snag work and will inform the Corporate Debtor on the necessary recourse including furnishing an estimate of cost of any work that are to be incurred in the process. g) However, it has been submitted by the Corporate Debtor that the Operational Creditor has never informed or intimated about such cost for the clear reason that there was no such personnel deputed at all and no incomplete snag work was attended to by the Operational Creditor. h) It appears from the Counter filed that the Corporate Debtor claimed to have provided to the Operational Creditor a detailed working as attachment about the details of work assessment made by a third party services consultant at the request of the Corporate Debtor who had provided the detailed report of snag work pending to be rectified by the Operational Creditor as per the bill of quantitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heques allegedly owing to the failure of the Operational Creditor to rectify the snag work as reiterated below: (i) WTP room 6 Numbers pressure gauge not working. (ii) External Hydrant Outer ring butterfly valve not properly getting close. (iii) Near gas bank and north side irrigation filter house nearby hydrant wheel valve is not getting close. (iv) 8th floor, 5th floor, 3rd floor, B2 - 1 inch fire reel hosing is not properly installed. (v) Fire system panel board 7 numbers lock is not working. 16. It is pertinent to note that the Corporate Debtor had pojnted out the aforementioned Snag works to be completed vide their e-mail dated 15th May 2018 which is prior to initiation of the present proceedings. 17. It is evident from the components of the Snag work that these are integral part of fire fighting work envisaged to be completed in the Hotel Project of the Corporate Debtor without which a Five Star Hotel cannot start functioning. Being an experienced contractor in fire fighting work segment in similar projects, the Operational Creditor should have taken keen interest in resolving the snag works as above and obtained a Joint Compliance Report duly signed by both the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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