TMI Blog2021 (6) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... ing under any law for the time being in force. On perusal of the record it is found that, no service has been provided to the corporate debtor at any point of time by the operational creditor save and except an agreement entered between both sides, as claimed. To attract the provision of IB Code under Section 9, there must be 'due' and 'default' which is found absent in the instant application - application is also not complete as the due date and default date is not provided, even no invoices are annexed or ever raised upon corporate debtor. In absence of such primary information, it is difficult to come to the conclusion that the amount claimed is operational debt - Application dismissed. - CP (IB) No. 605/9/NCLT/AHM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... undertake the construction of a Government School building awarded to the respondent by the State Government. That, in accordance with the said agreement, the applicant is eligible to receive 20% of the funds received from the government from time to time. According to the applicant, on this account, a sum of ₹ 29,00,000/- (Rupees twenty-nine lacs only) excluding interest @ 18% per annum, is due and receivable from the corporate debtor. 5. The petitioner has further stated that despite completing substantial portion of the construction work, the respondent has failed to make any payment out of the funds received from the state government as per the construction agreement dated 17.11.2017 entered between the applicant and the corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into partnership agreement vide partnership deed dated 17.11.2017, wherein, Mr. Happy Natvarlal Khant is holding share of 75% while the share of the respondent company is 25% and the said partnership agreement is pertaining to project, viz., construction work for the Dang Ahwa, Government School contract at villages Ambapada, Dhuda, Borkhal, Piplada, Sakarpatal. It is further submitted that the said partnership deed has not been cancelled/revoked and, therefore, Mr. Happy Natvarlal Khant, brother of the applicant, is still holding 75% share in the above mentioned project. In view of that the application so filed by the applicant is required to be rejected. The said agreement is annexed as R1 at page no. 115. 10. It is further submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioned about invoice/bill/debit note, which are not annexed with the application. However, the said clause-2 read as under:- The total amount of receivable/total amount of debt is INR 29,00,000/-, not including interest on the principal sum calculated at the rate of 18% per annum from the respective due date of the invoice/debit note. Such interest at the rate of 18% per annum is due to be payable till payment and/or realization . However, no bill or invoice either annexed with the demand notice or with the application. Hence, it is difficult to make out as to which is the 'due' date and/or date of 'default'. There is also mention about the 'debit' note, but the same not annexed along with the application. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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