TMI Blog2021 (10) TMI 707X X X X Extracts X X X X X X X X Extracts X X X X ..... was proceeded ex-parte on 06.04.2021. As per Form V, Part IV of the application, the corporate debtor is liable to pay an outstanding sum of ₹ 1,14,74,920/-. The date of default as per part IV is 13.01.2020, which is date of invoice. The present application was filed on 01.12.2020, hence the debt is not time barred and the application is filed within the period of limitation - The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. The present application is complete and the Applicant is entitled to claim its dues, remained uncontroverted, establishing the default in payment of the operational debt beyond doubt. The present application is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i-110060. 4. The applicant submits that the corporate debtor entered into contract note dated 13.01.2010 with the applicant for trading in the shares of India stuffyarn Limited and in pursuant to that the applicant sold 63750 shares of India Stuffyarn Limited at the rate of ₹ 180/- per share to the corporate debtor for an amount of ₹ 1,14,74,920/-, which became due and payable by the corporate debtor. The applicant raised sale invoice no. 92/2019-20 dated 13.01.2020 upon the corporate debtor for payment of ₹ 1,14,74,920/-. 5. The applicant submits that several reminders were sent to the corporate debtor for repayment of the outstanding amount while the corporate debtor always made false assurances of the payment and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication was filed on 01.12.2020, hence the debt is not time barred and the application is filed within the period of limitation. 10. The Applicant has filed an affidavit under section 9(3)(b) affirming that no notice of dispute has been given by the corporate debtor relating to dispute of the unpaid operational debt. 11. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 12. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, remained uncontroverted, establishing the default in payment of the operational debt beyond doubt. The present application is admitted, in te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 9(5) of IBC, 2016, moratorium as envisaged under the provisions of Section 14(1), shall follow in relation to the Corporate debtor, prohibiting as per proviso (a) to (d) of the Code. However, during the pendency of the moratorium period, terms of Section 14(2) to 14(4) of the Code shall come in force. 16. A copy of the order shall be communicated to the Applicant, Corporate Debtor and IRP above named, by the Registry. In addition, a copy of the order shall also be forwarded to IBBI for its records. Applicant is also directed to provide a copy of the complete paper book to the IRP. A copy of this order be also sent to the ROC for updating the Master Data. ROC shall send compliance report to the Registrar, NCLT. - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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