TMI Blog2021 (5) TMI 321X X X X Extracts X X X X X X X X Extracts X X X X ..... a petition under Section 9 have been found to be fulfilled and therefore, this petition deserves to be admitted. Application admitted - moratorium declared - petition allowed. - CP (IB) No. 4035 of 2019 - - - Dated:- 30-4-2021 - H.V. Subba Rao, Member (J) And Shyam Babu Gautam, Member (T) For the Appellant : Jamsheed Master and Yahya Batatawala, Advocates For the Respondents : Rohit Gupta and Rushab Thackar, Advocates ORDER H.V. Subba Rao, Member (J) 1. This Company Petition is filed by Mr. Yogesh Ahuja and Mr. Pitamber Ahuja (hereinafter called as Operational Creditors ) seeking to initiate Corporate Insolvency Resolution Process (CIRP), against Govinda Industries Private Limited (hereinafter called as Corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r and acknowledged by them. The corporate debtor didn't reply to this Demand Notice within the stipulated period of 10 days. Later, the operational creditors issued a notice of hearing dated 19.12.2019 which was served upon on the corporate debtor and its directors requesting to remain present on the next date of hearing i.e. 16.01.2020. 5. In the submissions made by the corporate debtor on 28.02.2020, the corporate debtor has not stated anything about the claim amount. However, corporate debtor disputed that the rent/license fees with respect to any premises is not a claim in respect of provisions of goods and services and is not an operational debt as per the provisions of section 5(21) of the Code. Therefore, the creditor is not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time being in force, if such breach gives rise to a right to payment, whether or not such right is reduced to judgment, fixed, matured, unmatured, disputed, undisputed, secured or unsecured; Section 3(11): debt means a liability or obligation in respect of a claim which is due from any person and includes a financial debt and operational debt. Section 3(12): default means non-payment of debt when whole or any part or installment of the amount of debt has become due and payable and is not paid by the debtor or the corporate debtor, as the case may be; Section 5(20): operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... V. Crest Steel Power Private Limited (CP No. 1664/IBC/NCLT/MB/MAH/2017), which runs as follows: 24. Secondly, the operational creditors has given its premises on lease under an agreement. Therefore, receiving any consideration by way of lease rent from time to time or license fee for letting out premises falls under purview of providing services and the consideration that is receivable becomes 'Operational Debt'. 'Arrears of rent' are in the nature of operational debt within the meaning of definition of operational debt defined under section 5(21) of the I B Code. An action as regards recovery of arrears of rent is maintainable under section 9 of the I B Code, 2016. ......... 10. Basing on the above, we firmly be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P-P00999/2017-2018/11646 having office at 22, Dignity Apartments, Bon Lane, 7 Bungalows, Versova, Andheri (W), Mumbai 400053 as the Interim Resolution Professional to carry out the functions as mentioned under the Insolvency Bankruptcy Code. (c) The Financial Creditor shall deposit an amount of ₹ 2 Lakh towards the initial CIRP cost by way of a Demand Draft drawn in favour of the Interim Resolution Professional appointed herein, immediately upon communication of this Order. (d) That this Bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other aut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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