TMI Blog2020 (6) TMI 795X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (herein after referred to as a Code ) seeking for initiation of Corporate Insolvency Resolution Process ( CIRP in Short) against the Corporate Debtor Company, namely, M/s. Dhanurdhar Processors Private Limited. 2. The Petitioner - Operational Creditor is a registered company under the provisions of Companies Act, 1956, with a Company Identification Number (CIN) -U74999GJ2017PTC095928. The correspondence address of the Operational Creditor/Petitioner is at 806, SNS ARISTA, Plot No. 94/2, T.P. Scheme No. 29, Rindh, Surat, Gujarat-395003. The present Petition is filed through Authorised Person Mr. Gurmeet Singh, being Director of Taranjot Resources Private Limited having addressed at: 806, SNS ARISTA, Plot No. 94/2, T.P. Scheme No. 29, Rindh, Surat, Gujarat-395003. 3. The Respondent Corporate Debtor, namely, M/s. Dhanurdhar Processors Private Limited was incorporated on 29.11.2006 with CIN: U17219GJ2006PTC049463. The authorised capital of the company is INR. 3,50,00,000.00 (Rupees Three Crore Fifty Lakhs Only) and the paid-up capital is INR. 2,18,01,610.00 (Rupees Two Crore Eighteen Lakhs One Thousand Six ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the baseless allegation, the applicant herein by way of Rebuttal Document filed Affidavits stating on oath that the Directors, namely, Mr. Amit Bajaj and Mr. Gurmeet Singh were at the same place when the Board Meeting was convened on 19.04.2018 at the office of Operational Creditor located in Surat, Gujarat, (at page no 1-4 of the rebuttal document.) 10. It is submitted that the Corporate Debtor had raised another objections for the first time in its reply to petition that by way of confirmation letter dated 01.01.2016 the representatives of Operational Creditor, namely, Mr. Moenuddin Kagzi and Mr. Varinder Singh alleged to have acknowledged, verified, admitted and accepted the Corporate Debtor's claim against supply of defective goods, subsequently, the Operational Creditor filed rebuttal document to contradict the said allegation, wherein it is categorically visible that the said representatives never affixed their signatures on the alleged letter, as there is clear mismatch of the signatures which can be seen from the copy of PAN Card. (at page 9-12 of rebuttal document.) 11. It is submitted by the Petitioner that even if it is assumed the objections so raised by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meeting, it is body corporate an artificial person and not an individual that same person can authorise himself to do any acts or deeds. 15. It is submitted that the Resolution gives authority to Mr. Gurmeet Singh to appoint M/s. Perry Mason Para Legal LLP (PMPL) to issue notice and file Petition (if payment is not received in full.) Whereas Demand Notice is signed by Mr. Gurmeet Singh, Director of the Company, (page 61 of the paper book) 16. It is submitted that according to the resolution, Mr. Gurmeet Singh has only authority to settle the account and withdraw the petition. Hence, it is an intention of applicant to create a false pressure for recovery as they are aware about the pre existing dispute of their claim and such claim with the pre existing dispute cannot be filed under the I B Code. 17. It is submitted that page 116 of the petition, top para authorizes Mr. Gurmeet Singh to sign letter of Authority/Vakalatnama. Whereas Gurmeet Singh has signed power of attorney in individual capacity in the name of letter authority as page No. 113 of the petition (first para last line) 18. It is submitted that the doubt raised by the Corporate Debtor in the Reply/Objection ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is observed that the Corporate Debtor has tried to take moonshine defence of pre-existing dispute and brought some issues in the written statement which are not relevant. ORDER 22. Considering the material, papers filed by the Petitioner on record and the facts mentioned in the Para No. 21, 21.1, 21.2, 21.3 and 21.4 this Adjudicating Authority is satisfied that, a) Existence of operational debt is above Rs. One Lac; b) Debt is due; c) Default has occurred on 19.04.2018. d) Petition has been filed within the limitation period as the date of default started 19.04.2018 and the petition has been filed on 05.07.2018. e) Existence of dispute prior to the notice issued by the Operational Creditor is not found. f) Hence, this Application i.e. CP (IB) 357/9/NCLT/AHM is admitted today i.e. 05.06.2020 23. As per the provisions of Section 13 and 14 of the I.B. Code on the date of commencement of insolvency, this Adjudicating Authority shall declare moratorium for prohibiting all of the following, namely: - I. (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de clear that all the personnel connected with the Corporate Debtor, its promoters or any other persons associated with the management of the Corporate Debtor are under legal obligation under Section 19 of the Code to extend every assistance and cooperation to the Interim Resolution Professional as may be required by him in managing the day-to-day affairs of the 'Corporate Debtor'. In case, there is any violation, the Interim Resolution Professional would be at liberty to make appropriate application to this Tribunal with a prayer for passing an appropriate order. The Interim Resolution Professional shall be under duty to protect and preserve the value of the property of the 'Corporate Debtor' as a part of its obligation imposed by Section 20 of the Code and perform all his functions strictly in accordance with the provisions of the Code, Rules and Regulations. 26. An authentic copy of this order to be communicated by this Registry to the Operational Creditor, Corporate Debtor, as well as to the Interim Resolution Professional and the Registrar of Companies by Speed Post/Registered Post at the earliest. 27. Hence, with the above Observations and Directions CP ..... X X X X Extracts X X X X X X X X Extracts X X X X
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