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TMI Blog2017 (10) TMI 294X X X X Extracts X X X X X X X X Extracts X X X X ..... t that public announcement shall be immediately made by the Interim Resolution Professional with regard to admission of this application under Section 7 of the Code. We also declare moratorium in terms of Section 14 of the Code. A necessary consequence of the moratorium flows from the provisions of Section 14 (1)(a), (b), (c) & (d) - CP NO. (IB) - 128(PB)/2017 - - - Dated:- 1-9-2017 - MR. M.M. KUMAR AND MS. DEEPA KRISHAN, JJ. For The Applicant : Ankit Singal, Adv. For The Corporate Debtor : Ms. Vaishnavi Rao, Advs. JUDGMENT Ms. Deepa Krishan, Member (Technical) The Operational Creditor , M/s lenergizer IT Services Pvt. Ltd. has filed the instant application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity the Code ) with a prayer for initiating the Corporate Insolvency Resolution Process against the Corporate Debtor , M/s Free Culture Apparels Pvt. Ltd. (for brevity the Corporate Debtor ). It is appropriate to mention that the Operational Creditor is a Private Limited Company having its registered office at B-44, Malcha Marg, Chanakya Puri, New Delhi-110021 and is bearing identification no. U72900DL2010PTC201452. The Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 31st March 2017. (Amount in INR). Invoice Number Invoice Date Invoice Amount Less TDS Net Amount Received Balance Remarks IISPL/15-16/205 31-Aug-15 832,795 73,052 380,142 379,601 Fee for Telecalling-Aug'15 IISPL/15- 16/REIMB/080 7-Sep-15 11,400 - - 11,400 Telecom Charges- Aug'15 IISPL/15-16/280 30-Sep-15 677,606 59,439 - 618,167 Fee for Telecalling- Sep'15 IISPL/15- 16/REIMB/098 7-Oct-15 11,400 - - 11,400 Telecom Charges- Sep'15 IISPL/15-16/315 31-Oct-15 777,480 68,200 - 709,280 Fee for T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -May-16 11,450 - - 11,450 Telecom Charges- Apr'16 IISPL/16- 17/REIMB/052 6-Jun-16 11,500 11,450 Telecom Charges- May'16 IISPL/16-17/090 21-Jun-16 106,950 106,950 Fee for Telecalling- May'16 TOTAL 4,248,486 343,291 488,777 3,416,418 5. A copy of the Call Centre Agreement entered into between the petitioner and respondent company on 21.10.2011 has also been filed as annexure P-2 with the application. Copy of statement of bank account where deposits are made or credits received normally by the petitioner (Operational Creditor) from the Corporate Debtor have also been filed as Annexure P-16 and P-17. A copy of the ledger account of the Corporate Debtor in the financial books of the Operational Creditor have also been filed as A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd were to come into force with effect from 15.12.2016. In terms of Rule 5(1) of the Transfer Rules, the Hon ble Court, by order dated 14.03.2017, transferred the said Company Petition to Principal Bench of this Hon ble Tribunal and further directed that the same be listed on 12.04.2017. 9. On 12.04.2017, the said Company Petition was listed before this Hon ble Tribunal and the same was withdrawn with liberty to the petitioner to file a fresh petition on the same cause of action. However, the order dated 12.04.2014 failed to record the liberty granted to petitioner and accordingly, on 24.04.2017, and this Hon ble Tribunal granted liberty to the petitioner to file a fresh petition on the same cause of action. 10. A notice of Demand dated 25.04.2017 under Section 8 of IBC 2016 read with Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 was issued on behalf of the petitioner to the Respondent Company, at the registered office of the Respondent Company, calling upon the Respondent Company to pay the outstanding amount of INR 34,16,418.00 (Rupees Thirty Four Lacs Sixteen Thousand Four Hundred and Eighteen Only) towards outstanding invoices ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company or any third party and no collateral has been offered by them. It is further stated in the affidavit that there is no litigation initiated or pending against the respondent company as on date, except for the present proceedings before this Tribunal. 14. From a perusal of the record and the arguments advanced by the Learned Counsel for the parties, we are satisfied that the Operational Creditor has proved by overwhelming evidence that default has occurred, which meets the requirement of Section 9 of the Code. Learned Counsel for the Corporate Debtor has stated at the Bar that he does not have any opposition to the amount as claimed by the Operational Creditor We further find that the application is complete in all respects as the Insolvency Professional, Advocate Ashok Kumar Juneja has also been proposed who has filed his consent and copy of registration issued by IBBI on 02nd June, 2017. 15. As a sequel to the above discussion, this petition is admitted and Advocate Ashok Kumar Juneja, whose name also figures in the latest list of Insolvency Professionals issued by the Insolvency Bankruptcy Board of India, is appointed as an Interim Resolution Professional. 16. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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