9911796707
TMI Blog2017 (10) TMI 912X X X X Extracts X X X X X X X X Extracts X X X X ..... s, else 24% interest was payable. Since 2006, the Petitioner was regularly supplying the goods. The books of Accounts are duly maintained and demonstrated that the receivable amount as on 12-05-2014 was ₹ 10,74,450, The Petitioner had sent the Ledger Account to the Debtor Company for verification which was marked as “tallied” by one of the Company's Officer, as also duly stamped. The Petitioner issued a legal notice; however, no payment was made. Having no option left, the Petitioner filed the Petition before the Hon'ble High Court under the old provisions of the Companies Act. As a result the “Debt” as also the “Default” has duly been established by the Petitioner. Considering the totality of the facts and circumstances this Petition now under consideration deserves to be “Admitted”. The Petitioner has proposed the name of the Interim Resolution Professional Mr. Hemant Mehta, Registration No. IBBI/IPA-001/IP-P00027/2016-17/10060. The appointed IRP shall perform the duties as defined under section 18 of the Code. He shall also submit the resolution plan for approval as prescribed under section 31 of the Code. Since the Petition is “Admitted”, hence the Moratorium sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd dealt with in accordance with Part-II of the Code. 3.1 He has further stated that the old Petition was filed on 30-07-2016 before the Hon'ble High Court, Bombay and came up for acceptance before the Company Registrar on 29-11-2016. The Petitioner was directed to serve a copy of the Petition upon the Respondent. According to the claim of the Respondent, the Petition was served on 14-12-2016. The Respondent has further stated that according to the Inward Register of the Respondent Company, the Petition was received on that date. So the argument is that since the Petition had already been served upon the Respondent Company before the transfer rules were notified which came into effect on 15-12- 2016 therefore the captioned Petition was wrongly transferred to NCLT. 3.2 The next argument is that the Petition under section 9 was defective because the requisite Form No. 5 was incomplete, devoid of the necessary details and particulars. One of the defect according to the Learned Counsel was that the Petitioner had not furnished the copy of the Invoices demanding the payment. It has also been pleaded that the Demand Notice as per Section 8 has not been issued. It has also been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive has explained the merits of the case and pleaded that number of documents and copies of accounts of the Debtor company in the books of the Petitioner have clearly demonstrated the 'supply' of the goods and 'default' in payment. Learned Counsel has drawn attention on the Stamens of Account of the Respondent Debtor in the books of the Petitioner to demonstrate that the account of the Debtor Company was duly tallied by its Accountant. At that point of time, no dispute was ever expressed. A legal notice was issued on 29-10-2015 and also a reply had come from the Respondent dated 19-11-2015, however, no serious dispute was ever raised. He has concluded that the Operational Debt was duly admitted by the Debtor Company and payment had not been made. Hence, the Petition deserves admission. 6. Heard Learned Representatives of both the sides at some length and on due consideration of the facts of this case, prima facie it appears that once Hon'ble High Court has transferred a Petition to NCLT Bench then the NCLT Bench must not intervene in the said decision of the Hon'ble High Court. There is no dispute on facts that this Petition in question, was tran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... supplying the goods. The books of Accounts are duly maintained and demonstrated that the receivable amount as on 12-05-2014 was ₹ 10,74,450, The Petitioner had sent the Ledger Account to the Debtor Company for verification which was marked as tallied by one of the Company's Officer, as also duly stamped. The Petitioner issued a legal notice; however, no payment was made. Having no option left, the Petitioner filed the Petition before the Hon'ble High Court under the old provisions of the Companies Act. As a result the Debt as also the Default has duly been established by the Petitioner. 10. Considering the totality of the facts and circumstances this Petition now under consideration deserves to be Admitted . 10.1 The Petitioner has proposed the name of the Interim Resolution Professional Mr. Hemant Mehta, Registration No. IBBI/IPA-001/IP-P00027/2016-17/10060. The appointed IRP shall perform the duties as defined under section 18 of the Code. He shall also submit the resolution plan for approval as prescribed under section 31 of the Code. 10.2 Since the Petition is Admitted , hence the Moratorium shall commence as prescribed under section 14 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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