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TMI Blog2019 (3) TMI 1653X X X X Extracts X X X X X X X X Extracts X X X X ..... clusion that the debtor is relieved from paying the dues against the power supplied by the creditor. Since the Creditor has filed copies of invoices, earlier agreement dated 15.11.2014 entered into between the parties, subsequent agreement, Demand Notice dated 07.03.2018 sent to the Corporate Debtor and also Reply Notice dated 19.03.2018 by the Corporate Debtor, we are of the view that this Applicant/Operational Creditor has established the existence of debt as well as default, whereby, this Company Petition is hereby admitted. Petition admitted - moratorium admitted. - CP/736/IB/2018 - - - Dated:- 28-3-2019 - B. S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For the Operational Credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to make claim against the invoices raised basing on the earlier agreement dated 15.11.2014 after new agreement has come into existence. 4. On hearing the submissions of either side, the point for consideration is, as to whether or not the claim made over the power already supplied basing on the tariff determined under the old agreement dated 15.11.2014 could get extinguished and the debtor is relieved from paying off the earlier dues on the footing new agreement entered into on 20.05.2016 superseded the earlier agreement dated 15.11.2014. 5. It is an agreement between the parties that the creditor would supply power to the debtor and the debtor would pay for the same as per the terms entered between them, to fulfil the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng on the invoices raised. 8. It is simple common sense that the debtor cannot wriggle out from the obligation of payment to the power already consumed without any demur by showing out the subsequent agreement superseding the earlier agreement, because one has to pay to the services or goods availed notwithstanding the fact as to whether agreement is in force or not as because the obligation of power supply was fulfilled, but the obligation of payment against the invoices raised for the supply already made is not fulfilled. When supply is admitted, invoices raised admitted, how this debtor could wriggle out from evading making payment to the power already availed, therefore it is evident that debt is in existence. 9. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng all of the following actions, namely, (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, Tribunal, Arbitration panel or other Authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act); (d) The recov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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