9911796707
TMI Blog2022 (2) TMI 797X X X X Extracts X X X X X X X X Extracts X X X X ..... Process in respect of respondent company, claimed to be the corporate debtor. 2. The applicant, Thakral Computers Private Limited has filed the present application claiming as the operational creditor with the prayer for initiation of Corporate Insolvency Resolution Process under the provisions of the Code. 3. The details of transactions leading to the filing of this petition as averred by the petitioner are as follows: a. The Operational creditor is engaged in the business of branded computers and apple products across India. b. It is the case of the applicant that at the request of the Corporate Debtor, the parties entered into an arrangement on July, 2011 whereby the Operational Creditor provided the office space at the Office Prem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication. b. That the corporate debtor submitted that the definitions of 'Claim', 'Debt', 'Default', 'Operational Creditor' and 'Operational Debt' under the Code do not make any reference to rental dues of property. As such, the lease of immovable property cannot be considered as supply of goods or rendering of any services and thus, cannot fall within the definition of 'Operational Debt'. Further neither the Petitioner nor the Respondent are in the business of leasing/subleasing of immovable properties and therefore, the alleged dues are not linked to their operations. c. It is submitted that the Petitioner has also claimed a 'default' to the tune of Rs. 11,66,404/- against various ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor defaulted in the payment of rent against the said premises leading to the filing of the present petition ii. It is submitted that upon the occurrence of the said default, the Operational Creditor had delivered a demand notice dated 28.01.2021 under Section 8 of IBC demanding payment of the defaulted amount. The Corporate Debtor failed to bring to the notice of the Operational Creditor any dispute or payment within 10 days as stipulated in Section 8(2) of IBC. In fact, no response whatsoever was received within the stipulated period. iii. It is further submitted that in reply dated 24.02.2021 was received wherein the Corporate Debtor admitted the default and sought time till 01.12.2021 to pay the amount. iv. That it is submitted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period of limitation for any suit, appeal, application or proceeding, the period from 15.03.2020 till 02.10.2021 shall stand excluded. Consequently, the balance period of limitation remaining as on 15.03.2021, if any, shall become available with effect from 03.10.2021." Thus the default on 01.07.2017 shall be well within the limitation period as the limitation for the same would expire on 30.06.2020. 6. We have heard the arguments of Ld. Counsels for the applicant and the respondent and perused the case records. 7. The respondent case that the petition is barred by limitation wherein the date of default is between 01.07.2017 to 02.03.2018 and thus, the limitation stands expired on 01.03.2021. Further the applicant relied on the judgement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , therefore, this bench appoints Mr. Sunder Khatri as the Insolvency Resolution Professional of the corporate debtor. The registration number of the IRP being IBBI/IPA-002/IP-N00437/2017-18/11191 and email id- sunder [email protected]. IRP above named is appointed subject to the condition that no disciplinary proceedings are pending against him. The specific consent is required to be filed in Form 2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 and made disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulations, 2016. 12. We direct the applicant to deposit a sum of Rs. 2 lacs with the Interim Resolution Professional, namely Mr. Sunder Khatri to meet o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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