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TMI Blog2019 (8) TMI 1304X X X X Extracts X X X X X X X X Extracts X X X X ..... oner is entitled to charge interest @18% p.a. on the delayed payments - This Bench on going through the Petition and after hearing the submissions of the Counsel for both sides came to the conclusion that there is debt and default. This Bench having been satisfied with the Petition filed by the Operational Creditor which is in compliance of provisions of section 9 of the Insolvency and Bankruptcy Code admits this Petition declaring moratorium - petition admitted. - C.P. (IB) 3889/2018 - - - Dated:- 6-5-2019 - Shri Bhaskara Pantula Mohan, Member (Judicial) And Shri V. Nallasenapathy, Member (Technical) For The Petitioner : Mr. Dharmapal Dave, Advocate i/b Naki Patil Salvi And Associates For The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner on 03.08.2018 issued a demand notice under Section 8 of the Code demanding ₹ 14,46,192/- and interest @ 18% p.a. for the delay in making payment, from the Corporate Debtor. 3. On 10.08.2018, the Corporate Debtor by reply to the demand notice stated that they are facing some kind of funds issue for few months and assured that they will clear the payment gradually. The Petitioner has filed an affidavit under section 9(3)(b) of the Code stating that no notice of dispute has been received from the Corporate Debtor. 4. The Corporate Debtor filed reply to the petition stating that the Petitioner is misusing the Code and further stated that charging an interest @18% p.a. is not in terms of the agreement en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( b) That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. ( c) That the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. ( d) That the order of moratorium shall have effect from 06.05.2019 till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, as the case may be. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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