TMI Blog2022 (9) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... not printed from the webpage, but appear to have been typed out. The Hon ble Supreme Court in MOBILOX INNOVATIONS PRIVATE LIMITED VERSUS KIRUSA SOFTWARE PRIVATE LIMITED [ 2017 (9) TMI 1270 - SUPREME COURT] ] has observed that all that the Adjudicating Authority has to see at the stage of Admission is whether there is a plausible contention which requires further investigation and that the Dispute is not a patently feeble legal argument or an assertion of fact or a moonshine defence unsupported by tangible materials/evidence. Further, upon perusal of the record at pages 42 43 of the reply [Annexure C], it is seen that the Corporate Debtor failed to fulfill its obligations by not clearing the dues of the Operational Creditor on time, which in a cascading manner, resulted in the delay in the completion of the purchase order. The present petition made by the Operational Creditor is complete in all respects as required by law. The Petition establishes that the Corporate Debtor is in default of a debt due and payable and that the default is more than the minimum amount stipulated under section 4 (1) of the Code, stipulated at the relevant point of time - petition admitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hase Order No.562 563, and handed over to the same to the Corporate Debtor. With respect to Purchase Order No.447, the Operational Creditor had also executed a substantial portion of the work. 5.4 It is pertinent to note that by November, 2018, the Operational Creditor had invested Rs.40,19,999/- (Rupees Forty Lakh Nineteen Thousand Nine Hundred Ninety Nine only) in Project No.1 2 and Rs.29,36,600/- (Rupees Twenty Nine Lakh Thirty Six Thousand Six Hundred Ninety Nine only) in Project No.3. 5.5 On January, 10, 2020, the Operational Creditor issued three Bills to the Corporate Debtor, details of which are as follows; (i) Bill ref. no. 186/Nag/2019-20 in respect of Purchase Order No. 562 for an amount of Rs. 12,43,349/- (Rupees Twelve Lakh Forty Three Thousand Hundred Forty Nine Only). (ii) Bill Ref no. 187/Nag/19-20 in respect of Purchase Order No. 563 for an amount of Rs. 68,67,091/- (Rupees Sixty eight lakh sixty seven thousand ninety one only) (iii) Bill ref no. 188/Nag/19-20 in respect of Purchase Order No. 447 for an amount of Rs. 29,36,699/- (Rupees Twenty Nine Lakh Thirty Six thousand Six Hundred Ninety Nine only) (iv) Tax Invoice dated January 10, 2020 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.5 Further, an extra amount of Rs.26,24,552/- was raised without any justification whatsoever. The Purchase Order in this event was not accepted or countersigned by the Operational Creditor thereby making it inadmissible for the Operational Creditor to claim any amount from the instant Purchase Order. No supporting bills were provided to the Corporate Debtor for the extra work. Moreover, the entire extra work as claimed by the Operational Creditor was already covered under the Purchase Order. 6.6 With respect to the Purchase Order No. 563, the Operational Creditor billed an extra amount of Rs. 94,78,574/- over and above the amount set out in the Purchase Order. It is a fact that the extra items so billed were all covered by the said Purchase Order itself. The extra items so billed were bogus and as such, was done in order to dishonestly harass the Corporate Debtor with extra bills. 6.7 With respect to the Purchase Order No., only 20% of the work was completed and 80% work was left incomplete. As per the admitted position by the Operational Creditor, only work till plinth level was completed with casting of 30 columns out of 132 columns. Despite not completing even 20% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, it is pertinent to mention that, the Corporate Debtor has submitted that, the Operational Creditor has annexed an invoiced dated 04 August, 2018 and 04 April, 2019 in the Petition. Further, in order to avoid limitation, the Operational Creditor again raised three invoices dated 10 January, 2020. 12. Notwithstanding, the fact that the Operational Creditor raised the invoice twice, this instant application has been filed on 03 August, 2021 before this Adjudicating Authority. Even if we take into account the dates of the invoices raised on 04 August, 2018 and 04 April, 2019, then also this application would fall within limitation. 13. With respect to the ground of pre-existing disputes, upon perusal of the alleged emails [Annexure E at pages 47 50 of the reply], it is seen that the same do not appear to be genuine as they are not printed from the webpage, but appear to have been typed out. 14. Further, the Hon ble Supreme Court in Mobilox Innovations Pvt. Ltd. Vs. Kirusa Software (P) Limited 2017 (1) SCC onLine SC 353 has observed that all that the Adjudicating Authority has to see at the stage of Admission is whether there is a plausible contention which requires fu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016. The fee payable to IRP or the RP, as the case may be, shall be compliant with such Regulations, Circulars and Directions as may be issued by the Insolvency Bankruptcy Board of India (IBBI). The IRP shall carry out his functions as contemplated by sections 15, 17, 18, 19, 20 and 21 of the Code. f) During the CIRP period, the management of the Corporate Debtor shall vest in the IRP or the RP, as the case may be, in terms of section 17 of the Code. The officers and managers of the Corporate Debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP within one week from the date of receipt of this Order, in default of which coercive steps will follow. g) The IRP/RP shall submit to this Adjudicating Authority periodical reports with regard to the progress of the CIRP in respect of the Corporate Debtor. h) The Operational Creditor shall deposit a sum of Rs.3,00,000/- (Rupees Three Lakh only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims. These expenses are subject to approval by the Committee of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
