9911796707
TMI Blog2022 (4) TMI 1159X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Process (CIRP) against Ebrahim Essa Developers Private Limited (CIN U45202MH2010PTC206044), ("Corporate Debtor"). 2. The Corporate Debtor is a company incorporated on 28.07.2010 under the Companies Act, 1956, as a private company limited by shares with the Registrar of Companies, Maharashtra, Mumbai. Its registered office is at 115, Dataawalla Estate, Essa Aziz Compound S.V. Road, Jogeshwari (West), MUMBAI 400102. Therefore, this Bench has jurisdiction to deal with the present petition. 3. The present petition was filed by the Operational Creditor before this Adjudicating Authority claiming that the Corporate Debtor failed to make payment of a total sum of Rs. 42,28,463/- (Rupees forty-two lakh twenty-eight thousand four hundr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he contract dated 7-07-2011 the bill payment was to be made within 7 days of the bill date. f) The Operational Creditor submits that, in spite of repeated request and reminders the Corporate Debtor failed to make payment of the outstanding dues. 5. The case of the Corporate Debtor is as under: i. The Operational Creditor was given work order for carrying out work in the building which was under construction. On completion of the work, the Operational Creditor was to be paid the amount as per the invoice tendered by them. ii. On receiving the Demand Notice dated 28.11.2018 from the Operational Creditor, the Corporate Debtor states that the invoice which has been forwarded shows the quantity is in excess of the quantity mentioned in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reply dated 22.01.2020 in which it is stated that as per the contract the material was supplied by the Operational Creditor and the amount was deducted from the bills of the Corporate Debtor. The total value in the contract was Rs. 1,13,17,428/-. viii. The Operational Creditor forwarded running bills as per slab wise completion of work from 3.10.2011 to 1.07.2015 amounting to Rs. 37,16,583/-. Though certain amount has been received by the Operational Creditor, the bills have not been provided to the Corporate Debtor. ix. The work of Operational Creditor in the said project was completed in the month of December 2015 and the last payment was done on 22.08.2016. x. The Corporate Debtor had made payment of Rs. 15,50,000/- to the Operati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g of CP is well within the Limitation. This Bench has jurisdiction to deal with this Company Petition. The date of default as per the mode of payment in the last invoice is 20.10.2016. 13. The total debt due and payable to the Operational Creditor is Rs. 42,28,463/- (Rupees forty-two lakh twenty-eight thousand four hundred sixty-three Only). 14. The Petition made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corporate Debtor is in default of a debt due and payable, and the default is in excess of minimum amount of rupees one lakh stipulated under section 4(1) of the IBC. Therefore, the debt and default stands established and there is no reason to deny the admission of the Petition. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... very of any property by an owner or lessor where such property is occupied by or in possession of the Corporate Debtor. (c) Notwithstanding the above, during the period of moratorium,- (v) The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period; (vi) That the provisions of sub-section (1) of section 14 of the IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any sectoral regulator; (d) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Tribunal approves the resolution plan under sub-section (1) of section 31 of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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