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TMI Blog2018 (4) TMI 1478X X X X Extracts X X X X X X X X Extracts X X X X ..... py of the certificate from the financial institution/bank maintaining accounts of the Operational Creditor has been filed to satisfy the requirement of Section 9(3)(c) of the Code. As a sequel to the above discussion, this petition is admitted and Shri Atul Kumar Kansal is appointed as an Interim Resolution Professional. X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Code. 5. The case of the 'Operational Creditor' is that it had entered into a contract with the Corporate Debtor through letter of intent dated 20.05.2010 vide Ref No. TEPL 029/Rajwest 662/Electrical/10-11 for installation, erection, testing and commission of electric cables at Rajwest Power, Bhardesh Site, Barmer, Rajasthan, a site of the Corporate Debtor. The contract was worth ₹ 22,02,284.00 (Rupees Twenty Two Lakhs Two Thousand Two Hundred Eighty Four Only) subject to other terms and conditions as mentioned therein. 6. Similarly, the Operational Creditor had also entered into similar project with the Corporate Debtor through letter of intent dated 27.12.2010 vide Ref No. TEPL 043/REL-Parichha 686/Electrical/10-11 for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ' had sent a demand notice in respect of unpaid 'operational debt' which is dated 15.12.2014. In context of the same, the Corporate Debtor had duly acknowledged his legal liability for the aforementioned outstanding amount vide their reply dated 18.01.2015 wherein it has requested more time until May, 2015 to repay the same. A copy of the demand notice dated 15.12.2014 and a copy of reply dated 18.01.2015 have been placed on record (at pages 109 & 110). 10. The 'Operational Creditor' further asserted that it made repeated requests to the Corporate Debtor for payment of the aforesaid due amount. However, the Corporate Debtor failed to honour the demands of the Operational Creditor. In view of the aforesaid facts and circumstances, the Opera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditor. It further submits that the Company do not contest or rebut the averments/submissions made by the Operational Creditor in respect of the outstanding amount or liability. 15. In view of the above submissions put forth by the Corporate Debtor, it is patent that the Corporate Debtor has not opposed the admission of the instant application. 16. We have heard learned counsel for the parties and have perused the pleadings along with various affidavits with their able assistance. As per the invoices issued by the Operational Creditor from time to time with regard to manpower supplied by it to carry out the electrical work and for installation, erection, testing and commissioning work as per requirements of the Corporate Debtor at both afo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tional Creditor has rendered the services of supplying manpower to carry out the electrical work and for installation etc. at the behest of the Corporate Debtor. Therefore, Operational Creditor fulfils the basic ingredients of the definition as given under Section 5(20) & 5(21) of the Code. It thus comes under the purview of both aforesaid Sections. 17. It is also evident that Corporate Debtor has committed default and the amount of ₹ 3,73,612.43/- has remained unpaid. It is patent from a perusal of the reply affidavit given by the Corporate Debtor that it admits the liability which is due and payable to the Operational Creditor. Thus, there is default committed on the part of the Corporate Debtor within the meaning of Section 3(12) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 20. It is made clear that the provisions of moratorium shall not apply to transactions which might be notified by the Central Government. Additionally, the supply of the essential goods or services to the Corporate Debtor as may be specified is not to be terminated or suspended or interrupted during the moratorium period. These would include supply of water, electricity and similar other supplies of goods or services. 21. The Interim Resolution Professional shall perform all his functions religiously and strictly which are contemplated, inter alia, by Sections 15, 17, 18, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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