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TMI Blog2017 (4) TMI 1399X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor, as the case may be. Once it is established as per the foregoing paragraphs that there was an existence of ‘Default' then the provisions of section 8 of the code shall come into operation. It is prescribed that an operational creditor on occurrence of a default deliver a Demand Notice of unpaid operational Debt or copy of an invoice demanding payment of the amount involved in the default to the Corporate Debtor as prescribed. Although in Sub-Section (2) of Section 8 a Corporate Debtor is authorized to establish the existence of a dispute within a period of 1 0 days on the receipt of the Demand Notice, but in the present case the "Operational Debtor', had not responded at all. Due to this reason the provisions of section 9 of the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner tried to serve by hand but the Directors of the Operational Debtor refused to take the delivery. The Petitioner has also attempted to serve the Petition through Registered Post , details are as under:- a. Vide Postal Receipt No. EM7224280951N dated 22/03/2017 to Magna opus Hospitality Private Limited, A415/417, Vashi Plaza, Eector-l7, Vashi, Navi Mumbai - 400703. b. Vide Postal Receipt No. EM72242808llN dated 22/03/2017 to Mr. Rohit Prem Chhabra at 802/6, Sagar Darshan, Sector-19, Nerul, Navi Mumbai -400706. c. Vide Postal Receipt No, EM7224279651N dated 22/03/2017 to Mrs. Rajani Rohit Chhabra at 802/6 Sagar Darshan, Sector-19, Nerul, Navi Mumbai 400706. 03. The Postal Department has returned the Registered Post Letters wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... defend by not responding any of the Notices it is hereby held that he had nothing to say in defence. 06. The Operational Creditor has stated that being a Chartered Accountant he had provided Professional Services and the impugned amount outstanding against the Operational Debtor is in the nature of Professional Fees . The first question which is raised during the course of hearing is whether the 'Professional Services' shall fall under the definition of Operational Debt as defined u/s 5(21) of the I BP Code. The definition is as under :- (27) Operational debt means a claim in respect of the provision of goods or services including employment or a debt in respect of the repayment of dues arising under any law for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch in detail as also keeping brevity in mind I hereby hold that a Professional Service provided by a Chartered Accountant definitely fall under the expression Services as incorporated in the definition of Operational Debt' U/s 5(21) of the Code. Once it ta hereby held that the impugned debt falls within the ambits of Operational Debt hence to be adjudicated under the provisions of Section 8 and Section 9 of the Code. 09. Prima Facie the documents attached with the Petition have demonstrated that, the Petitioner has audited the accounts of the Debtor Company. ln addition to the said Professional Service my attention is drawn on a Mandate Letter dated 7th July, 2017 for assigning Advisory Services by the Debtor company namely Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. It is prescribed that an operational creditor on occurrence of a default deliver a Demand Notice of unpaid operational Debt or copy of an invoice demanding payment of the amount involved in the default to the Corporate Debtor as prescribed. Although in Sub-Section (2) of Section 8 a Corporate Debtor is authorized to establish the existence of a dispute within a period of 1 0 days on the receipt of the Demand Notice, but in the present case the Operational Debtor', had not responded at all. Due to this reason the provisions of section 9 of the code shall come into operation. 12. As per the provisions of section 9(1) of the code after the expiry of the period of 10 days, from the date of delivery of the Demand Notice if the opera ..... X X X X Extracts X X X X X X X X Extracts X X X X
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