TMI Blog2021 (7) TMI 1118X X X X Extracts X X X X X X X X Extracts X X X X ..... ity does not have to indulge in the details or the terms of the Contract/Appointment letter. Pre-existence of dispute - HELD THAT:- The Corporate Debtor has rendered two different dates i.e. 10.12.2019 and 19.12.2019 for the alleged legal notice. The alleged dispute raised in the said legal notice is an afterthought and contrary to the stand taken by the Corporate Debtor. The Corporate Debtor has failed to produce any tracking report which could depict that the said Legal Notice dated 19.12.2019 was ever delivered to the Operational Creditor - thus, the defense of pre-existence of dispute can be categorized as a moonshine dispute. The application is admitted - moratorium declared. - Company Petition No. IB-441/ND/2020 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowed up however, he was informed that there are financial issues and the Corporate Debtor has no working capital to run the business due to which there is a delay in payment of the salary. The Applicant therefore resigned from the Corporate Debtor Company effective from 15.05.2019. The Applicant was assured that the clearance of his dues/pending salary for the period from December 2018 to May 2019. Despite follow up of the Applicant, the dues were not cleared and the Applicant vide email dated 01.10.2019 informed the Corporate Debtor about initiating a legal action against them in case of further delay in payment. The Applicant further submits that the Corporate Debtor despite admitting the claim dishonestly impute allegations vide email ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs had withheld a sum of ₹ 10,00,000/- against the goods supplied on Applicant's instruction. It is further stated that the Applicant being the business head was exclusively responsible for collection of the said amount. The Company has no intentions to hold the salary. Inspite of the emails being sent, the Applicant did not collect the outstanding dues from the dealers made by the Applicant and the amount of ₹ 10,00,000/- is still reflecting against your account. The Corporate debtor has further averred that a Legal Notice dated 10.12.2019 was sent to the Applicant to collect the outstanding dues and the salary shall be remitted post the outstanding payment being collected. It is stated in the reply that the terms and condi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... customers of which the Operational Creditor was responsible for sale of Company's products and collection of the price thereof, it was revealed that the said customers had withheld a sum of ₹ 10,00,000/- against the goods supplied on Operational Creditor's instruction. It is further stated that the Applicant being the business head was exclusively responsible for collection of the said amount. The Corporate debtor has further submits in this reply that a Legal Notice dated 19.12.2019 was sent to the Applicant to collect the outstanding dues post which the salary shall be remitted post the outstanding payment being collected. It is submitted that the terms and conditions of the appointment letter dated 08.01.2018 in condition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lary to the Operational Creditor has to be paid however, a condition has been laid that the Operational Creditor has to first recover the outstanding dues of ₹ 10,00,000/- from the customers therefore, it is a clear admission of default and this Adjudicating Authority does not have to indulge in the details or the terms of the Contract/Appointment letter. Further in order to deal with issue in hand with respect to pre-existence of dispute as the alleged by the Corporate Debtor in the Legal Notice dated 19.12.2020 we are of the view that the Corporate Debtor has rendered two different dates i.e. 10.12.2019 and 19.12.2019 for the alleged legal notice. The alleged dispute raised in the said legal notice is an afterthought and contrary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... close, recover or enforce any security interest created by the Respondent in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Respondent. (2) The supply of essential goods or services to the Respondent as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (4) The order of moratorium sha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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