TMI Blog2021 (1) TMI 442X X X X Extracts X X X X X X X X Extracts X X X X ..... terms and conditions of it. If the dues are not paid, the Petitioner has the right to suspend services until all undisputed invoices are paid. However, for the reasons best known to the Petitioner is stated to have continued the services inspite of failure to pay outstanding amount. The Petitioner failed to take any of the actions as mentioned in the Licence Agreement. The claim made in the instant Company Petition is for the period from 20.08.2016 to 19.02.2018, however the Petitioner has not initiated any legal course of action to recover the alleged outstanding amount till impugned the legal notice dated 06.06.2019 issued under the provisions of the Code. Except showing some uncorroborated e-mails made with the Respondent, the Petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IB) No. 164/BB/2020 - - - Dated:- 17-6-2020 - Rajeswara Rao Vittanala, Member (J) And Ashutosh Chandra, Member (T) For the Appellant : E. Christopher ORDER Rajeswara Rao Vittanala, Member (J) 1. C.P (IB)Nol64/BB/2020 is filed by M/s. P.E. Analytics Private Limited(hereinafter referred to as 'Petitioner/Operational Creditor) U/s 9 of the IBC, 2016, R/w Rule 6 of the I B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Skylark Mansions Private Limited, on the ground, that it has committed default for total amount of ₹ 1 l,80,900/-(Rupees Eleven Lakhs Eighty Thousand Nine Hundred Only) which includes 18% interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder the Original Agreement. The Respondent was liable to pay License fee of ₹ 4,90,000/- (Rupees Four Lakhs Ninety Thousand Only) per annum along with the applicable service tax. (4) It is stated that the Respondent has availed un-interrupted services from the Petitioner. However, the Respondent failed to pay the following invoices: Sl.No. Description Invoice No. Amount (Rs.) 1. Towards subscription fee for the period 20.08.2016 to 19.11.2016 16-17/251 dated 16.08.2016 1,40,876/- 2. Towards subscription fee for the period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent, who has stated that they would check and revert back, has not replied to any of the mails. (6) When the Respondent failed to pay the above outstanding amount, the Petitioner issued a Demand Notice dated 06.06.2019 to the Respondent, under the provisions of the Code by inter-alia demanding to clear the outstanding amount of ₹ 8,52,604/- along with the interest at rate of 15%, in terms of Licence Agreement dated 14.02.2014, within a period of 10 days from the receipt of this notice, by threatening to initiate CIRP, U/s 9 of the Code. Since the Respondent failed to pay the outstanding amount nor replied, the instant Company Petition is filed. 3. Heard Shri. E.Christopher, learned Counsel for the Petitioner through Video Con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Neither party shall be responsible for delays, failure, or omissions due to any cause beyond its reasonable control, wherever arising and not due to its own negligence and which cannot be overcome by the exercise of due diligence, including, but not limited to, the failure of third parties to provide marketable data in a timely manner, labour disturbances, riots, fires, earthquake, floods, storms, lightning, epidemic, war, disorder, hostilities, expropriation or confiscation of properties, interference by civil or military authorities or acts of God . With regard to Dispute Resolution the following is mentioned: In the event of a dispute between client and P.E. Analytics, each party will identify one executive of at least vice-pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or omissions due to any cause beyond its reasonable control, due to labour disturbances, riots, fires, earthquake, floods, EPIDEMIC etc. For the cause of action arise in the year 2016, the Petitioner got issued demand notice only on 6.6.2019, however, the instant Petition was filed before the Tribunal only on 29th January 2020. Therefore, invoking the provisions of Code for the nature of causes of action arise in the instant is nothing but abuse the provisions of the Code. 7. It is also relevant to point out here that Section 4 of Code underwent amendment, wherein minimum amount of default is enhanced to Rupees One Crore from existing amount of Rupees One Lakhs (Amended as per the Gazette of India notification issued by the Ministry of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
