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TMI Blog2019 (6) TMI 832X X X X Extracts X X X X X X X X Extracts X X X X ..... e notice was forwarded to the Micro and Small Enterprises Facilitation Council of Bangalore in accordance with Section 18 of the MSMED Act, for appropriate action. Instead of prosecuting the remedy under the provisions MSMED Act , and the instant Company Petition is filed under the provisions of the Code. As per Section 8(1) of Code, an Operational creditor should deliver demand notice of unpaid operational Creditor, a copy of an invoices demanding payment of the amount in the default to the Corporate Debtor in such form and manner as may be prescribed. The petitioner is admittedly has not issued demand notice prescribed under the Code and they have issued legal notice under the Provisions of MSMED Act - The petitioner also failed to su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Guru Jana ('Petitioner/Operational Creditor') basing on the Engagement letter dated 20.09.2016 issued to M/s. Ayurwin Pharma Private Limited ('Respondent/Corporate Debtor'), which is under heading as Strictly Private Confidential . Relevant clauses of the letter are as follows: 2.1 Our fees will be based on the degree of skill involved, the seniority of the staff engaged and the time necessarily occupied on the work. Our fee for conducting the Internal Audit will be billed as per Annexure-2 filed with the Engagement Letter. Apart from the fee we would seek the reimbursement of food, travel and out of pocket expenses incurred by us at actual. 2.2 Our fee does not include service tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16. Subsequently, the petitioner issued legal notice 29.12.2017 to the Corporate Debtor, by inter alia stating as follows: (a) My Client to registered under the Micro, Small and Medium Enterprises Development Act, 2006 ( MSMED Act ) and is possessed of Entrepreneurs Memorandum Number 290202103523. On a combined reading of the various definitions under Sections 2 and 15 of the MSMED Act, a buyer is required to make payment for the services rendered on or before the date agreed upon him and the supplier in writing or, where there is no agreement in this behalf, before the day following immediately after the expiry of the period of 15 (fifteen) days from the day of acceptance of services from a supplier. Clearly, you, being th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... forwarded to the Micro and Small Enterprises Facilitation Council (MSEFC) Bangalore, in accordance with Section 18 of the MSMED Act, for appropriate action. 3. Heard Shri Rafeeulla Shariff and Ms. Uthara Priyadharshini, learned Counsels for the Petitioner. 4. Shri Rafeeulla Shariff, learned PCS for the Petitioner submits that the instant Company Petition has been filed U/s. 9 of the I B Code, 2016 and there is debt and default and the Respondent failed to pay the outstanding amount of ₹ 3,29,415 though Demand notice was issued to the Corporate debtor. Therefore, he urged the Tribunal to admit the case as prayed for. 5. The Petitioner has not filed any documents to substantiate that it ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor, a copy of an invoices demanding payment of the amount in the default to the Corporate Debtor in such form and manner as may be prescribed. The petitioner is admittedly has not issued demand notice prescribed under the Code and they have issued legal notice under the Provisions of MSMED Act. On the other hand, that the Petitioner has invoked the Provisions of the MSMED Act for his redressal as per Section 18 of MSMED Act. Therefore, the petitioner has to prosecute the Micro Small and Medium Enterprise Development Council to reserve the issue. The petitioner also failed to substantiate the service rendered to the Corporate Debtor so as to claim the alleged outstanding amount except demand notice and Engagement letter as stated supra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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