TMI Blog2020 (8) TMI 867X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of clause 2.4 of the Agreement dated 03.03.2016 as the right to sue under this invoice accrues on 29.09.2016. For the other two invoices for which the due date is 14.08.2016 and 21.08.2016 are clearly barred by limitation as the present petition has been filed on 23.09.2019. The invoice dated 09.09.2016 is only for an amount of ₹ 36,074/- and even if the interest @ 24% is added, the total amount comes to ₹ 61,288/-. This is well below the threshold limit of minimum amount of default of ₹ 1,00,000/- for any petition under section 7 or 9 to be considered/ admitted by this Tribunal in terms of Section 4 of the Insolvency and Bankruptcy Code, 2016. Petition dismissed. - CP (IB) No. 627/9/HDB/2019 - - - Dated:- 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Total amount due with interest 2,18,437 Hence, this petition is filed under Section 9 of Insolvency and Bankruptcy Code, 2016, r/ w Rule 6 of Insolvency Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the Petition, initiation of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. 2. The averments of the petition filed by the Petitioner/ Operational Creditor in brief are described hereunder: i. M/s. Om Logistics Limited/ Operational Creditor is engaged in the business of providing Logistics Solutions to all multi-nations and reputed Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibed as follows: i. The Company petition is prima facie not maintainable on the following grounds: a. The Operational Creditor has not filed the record of default alongwith the Company Petition. b. The Operational Creditor has suppressed the facts that there are pre-existing disputes with regard to the alleged services provided between the Operational Creditor and the Corporate Debtor. c. The Operational Creditor did not file any proof of booking freight services and the details of the consignments. d. The Operational Creditor has intentionally suppressed the fact that the La Nourriture is completely different entity from the Corporate Debtor i.e. La Nourriture India Specialities Limited. The Operational Creditor herein inten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... / delivered. No lorry receipts produced in support of the alleged invoices of the Operational Creditor and without filing any proof simply harping on false invoices the Operational Creditor approached this Hon'ble Tribunal with unclean hands and with malafide intention harping on false and created documents. It is also averred the Operational Creditor is trying to misguide the Hon'ble Tribunal under the guise of computer generated invoices without producing list of goods consigned or lorry receipt and mischievously harping on the false documents filed the present application for initiating Corporate Insolvency Resolution Process, which is nothing but abuse of process of law and also a fraud and mischief played by the Applicant befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urther submitted that Operational Creditor accordingly raised three invoices dated 25.07.2016, 01.08.2016 and 09.09.2016 totaling to ₹ 1,27,074/-. Copies of these invoices are available at pages 25 to 27 of the petition. It is submitted by her that the Corporate Debtor inspite of various reminders did not pay any amount against the said invoices and therefore Operational Creditor issued statutory Demand Notice on 05.07.2018 demanding from the Corporate Debtor an amount of ₹ 1,27,074/-. It is submitted by her that the Corporate Debtor did not bother to send any reply to the said notice. Therefore, there being no other recourse than to file a petition under the Insolvency Bankruptcy Code, 2016, Operational Creditor filed the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... serves to be dismissed. 14. We have seen the petition, counter filed by the Corporate Debtor and all averments advanced by both the counsels. It is seen from the copies of three invoices available as Annexure I (page 25 to 27) of the petition that the said invoices are issued on 25.07.2016, 01.08.2016 and 09.09.2016 respectively. Further, in terms of contract dated 03.03.2016, a grace period of 20 days is allowed to the Corporate Debtor for making the payment. Accordingly, the due dates for the said invoices as per petitioner's own calculation become 14.08.2016, 21.08.2016 and 29.09.2016 as given at page 29 of the petition. As stated earlier, the Counsel for the Corporate Debtor has relied upon Hon'ble Supreme Court Judgement in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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