TMI Blog2022 (6) TMI 873X X X X Extracts X X X X X X X X Extracts X X X X ..... the condition of the Petitioner returning the defective spare parts to the Corporate Debtor. In this regard, Petitioner has already submitted that all the defective goods lying with them were returned to the Corporate Debtor on 21.10.2015 by courier, and the same was communicated to the Corporate Debtor vide email dated 24.10.2015. Moreover, the Petitioner has filed the copy of the said e-mail. Hence the Petitioner has proved the existence of debt and default on the part of the Corporate Debtor. The Petitioner has filed the present Petition before this Tribunal on 22.06.2018 and as such the Notification effected in increasing the threshold limit from Rupees One Lakh to Rupees One Crore as on and from 24.03.2020 does not apply to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vice agreement dated 01.01.2014. As per the agreement, the operational creditor was appointed to provide maintenance and services to pharmaceutical equipment, installation and maintenance thereof at the place where the said equipment were installed. As against the service provided by the Operational Creditor, the Operational Creditor raised invoices against the Corporate Debtor on 31.12.2015, 31.12.2016 and 31.12.2017 amounting to Rs.5,32,213.18; Rs.5,22,398.78 and Rs.5,05,714.98, respectively. This Operational Creditor has issued Section 8 notice (Form 3) on 04.12.2017, the Operational Creditor has further sent Section 8 notice (Form 3) through email on 07.12.2017. 3. The Corporate Debtor also replied to the said demand notice and submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adjudication of disputed claim of the operational creditor. It is further averred that the corporate debtor vide email dated 25.06.2015 and 13.09.2015 asked operational creditor for service reports and installation reports in respect of the claim of the operational creditors and has asked to return the old spares, however, not replied by the operational creditor till date as stipulated under clause 7 of the service agreement. The Corporate debtor raised the counter claim for the alleged breach of agreement as entered between the operational creditor and the corporate debtor as the operational creditor have taken the cash as service charges directly from customers of the corporate debtor and kept with them. Hence, prayed that petition may b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the respondent has failed to produce any material on record to suggest that the engineers of the applicant were inappropriate or dishonest in their conduct. At the end, it is submitted that the claim is well covered under the definition of debt under the Code, therefore, the applicant has taken recourse to the present petition. 6. Heard the submissions made by the Learned Counsel for both the parties and perused the material on record, we are of the view that the corporate debtor in its reply letter dated 14.05.2016 to the legal notice of the Petitioner dated 22.04.2016, the Respondent has admitted that the claims in furtherance of the debit notice of Rs.15,60,326.94 was revised and reduced to Rs.10,43,923.20, this by itself is also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith the direction as follows:- a. The above Company Petition (IB) 2412(MB)/2018 is hereby allowed and initiation of Corporate Insolvency Resolution Process (CIRP) is ordered against M/s Agfa Healthcare India Private Limited. b. This Bench hereby appoints Mr. Jitender Kothari, having Registration No: IBBI/IPA-001/IP-P00540/2017- 2018/10965, E-mail: jitenderkothari@rediffmail.com, as the Interim Resolution Professional to carry out the functions as mentioned under the Insolvency Bankruptcy Code, 2016. c. The Operational Creditor shall deposit an amount of Rs. 2 Lakh towards the initial CIRP cost by way of a Demand Draft drawn in favour of the Interim Resolution Professional appointed herein, immediately upon communication of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 33, as the case may be. h. That the public announcement of the corporate insolvency resolution process shall be made immediately as specified under section 13 of the Code. i. During the CIRP period, the management of the corporate debtor will vest in the IRP/RP. The suspended directors and employees of the Corporate Debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP/RP. j. Registry shall send a copy of this order to the concerned Registrar of Companies for updating the Master Data of the Corporate Debtor. 7. The Registry is hereby directed to communicate this order to both the parties and to IRP immediately. - - TaxTMI - TMITax - Insolvency & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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