2018 (4) TMI 1568 – NCLT, MUMBAI – TMI – Initiation of Corporate Insolvency Resolution Process (CIRP) – Held that:- Upon perusal of reply of the Corporate Debtor letter dated 19/9/2017, it's noted that Corporate Debtor itself stated that he had purchased material worth Crores of Rupees during the period of April 2010 to March 2013, but in the same letter Corporate Debtor has denied as not received any such material from Operational Creditor.
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Upon perusal of the documents, materials submitted by Operational Creditor, we are satisfied that Corporate Debtor has failed to make payment towards supply of material/goods made by Operational Creditor, application has been filed in the prescribed Form (application form also contains relevant information) proposed an IRP and the application is complete in all respects and debt and default is established, therefore, it's a fit case to admit U/s 9 of I & B Code 2016, to declare moratorium and to appoint IRP as proposed. In view of the reason
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the table below. Sr.No. Invoice[Bill Nos. Date of Invoices Invoice Amount (Rupees) Amount Received and adjusted Outstanding Invoice/lnvoic e Amount (Rupees) 1 000568 12.02.2013 21,00,0003.00 (5,00,000.0) 16,00,003.00 2 000601 05.03.2013 22,38,965.00 22,38,965.00 3 000614 12.03.2013 19,62,448.00 19,62,448.00 4 000648 30.03.2013 5,11,312.00 5,11,312.00 TOTAL 68,12,728.00 (5,00,000.0) 63,12,728.00 3.Operational Creditor has adjusted an Amount of æ. 5 lacs paid by the Corporate Debtor towards Invoice No 000568 dated 12/02/2013. Operational Creditor has submitted copies of 40 reminder letters sent/addressed to Corporate Debtor starting from 17/12/2013 till 24/08/2016. Since Corporate Debtor has not honoured its outstanding payment, Operational Creditor issued the demand notice on 12/09/2017. 4.Corporate Debtor vide its letter dated 19/9/2017 denied the claim of Operational Creditor on various grounds viz failed to supply required material, submitted invoices which do not pertain to Co
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or. 6.Operational Creditor has also proposed Mr. Anshuman Chaturvedi, as Interim Resolution Professional having Registration No-IBBI/IPA001/1P-P00158/2017-18/10327, having Address:- A-404, Express Zone, Off. Western Express Highway, Goregaon (East), Mumbai, 400063 7.However, upon perusal of reply of the Corporate Debtor letter dated 19/9/2017, it's noted that Corporate Debtor itself stated that he had purchased material worth Crores of Rupees during the period of April 2010 to March 2013, but in the same letter Corporate Debtor has denied as not received any such material from Operational Creditor. 8.Upon perusal of the documents, materials submitted by Operational Creditor, we are satisfied that Corporate Debtor has failed to make payment towards supply of material/goods made by Operational Creditor, application has been filed in the prescribed Form (application form also contains relevant information) proposed an IRP and the application is complete in all respects and debt and de
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owner or lessor where such property is occupied by or in the possession of the corporate debtor. (II) That the supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. (III) That the provisions of sub-section (l) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (IV)That the order of moratorium shall have effect from 26.04.2018 till the completion of the Corporate Insolvency Resolution Process or until this Bench approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, as the case may be. (V)That the public announcement of the Corporate Insolvency Resolution Process shall be made immediately as specified under section 13 of the Code. 10.Accordingly, this Company Petition No. 1693/2017 admitted. – Case laws – D
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