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TMI Blog2018 (12) TMI 1713X X X X Extracts X X X X X X X X Extracts X X X X ..... training programs where there were 2 teaching sessions for 10-14 trainees, providing 2 weeks of training to each trainee and this offer was accepted by applicant vide email dated 06. I I .2013. b. GET issued a statement of work, where the consideration of Dr. Mashaa'l's services was set at USD 900 per training day, the same was accepted by Dr. Mashaa'l. c. From 29.03.2014-17.04.2014 & 01.06.2014-16.06.2015, the course was duly conducted and concluded by Dr. Mashaa'l in two sessions well to the satisfaction of GET. d. On 03.07.2014 Dr. Mashaa'l wrote email to GET to inquire about the outstanding dues pending from GET for his services rendered and in reciprocation and on 04.()7.2014 Mr. Vikram Singha sent an email requesting Dr. Mashaa'l to furnish a fresh invoice. e. On 05.12.2014 Dr. Mashaa'l raised and sent an invoice via email dated 05.12.2014 to GET for the outstanding amount that stood at USD 31,699/- after deducting the advance of USD 1,500 paid and making necessary adjustments. f. On 09.07.2014 GET deliberately delayed the amount outstanding in favour of Dr. Mashaa'l by giving false and fabricated excuses of delay being caused d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve the territorial jurisdiction to adjudicate on events which have taken place in Mauritius. c. It is stated that the training was to be provided at fixed intervals, and full payments would be provided on satisfaction of PetroChina. However, as would be revealed hereinafter, the operational creditor only undertook selective training classes for the personnel, and he moreover, took several unauthorized leaves, which resulted in the personnel not receiving adequate training. As such, Petro China only released payment on pro-rated basis to Corporate debtor, for disbursement to operational Creditor. All the payments released by the Petro China have already been credited to the account of the Operational Creditor. A Reioinder has been filed on behalf of the Operational Creditoc to the reply filed by Corporate Debtor wherein it is seen that he Operational Creditor has responded as follows :- a. The primary contention of the corporate debtor that the management of the presently impleaded Corporate Debtor i.e. M/S Global Energy Talent Private Limited and management of Global Energy talent, Mauritius is the sister company of the Indian Entity and was the company which was initially ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lobal Energy Talent Pvt. Ltd., Gurgaon, Haryana. d. In view of the aforementioned facts and documents, which undeniably attest to the training sessions which were organized by the Corporate Debtor, the Corporate debtor deliberately omitted material facts in its reply and has attempted to mislead the Operational Creditor and this Hon'ble Tribunal towards believing the fact that the training contract was between the Operational Creditor and Global Energy Talent, Mauritius and is therefore liable for perjury through willful and material omissions from statements relating to its affairs and also liable for punishment under section 72 of the IBC 2016. e. The contentions of the Corporate Debtor, that the Operational Creditor took substantial number of leaves and that out of 28 days of contracted classes, split into two 14 days each session, and that the Operational Creditor conducted 12 classes in totality and willfully relinquished remaining 16 days is false, frivolous. In reality altogether 36 training days were attended to by the Operational Creditor out of 42 training days contracted, Mr. Vikram Singha admittedly said that the contract was for 42 days, only 36 training days ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... those training days only i.e. 36 and for which the ()perational Creditor had sent fresh invoice to Mr. Vikram Singha. c) Whether there is any pre-condition that payments would be made to the Operational only upon clearance by Petro China? It is very clear from the contract that there is no such condition that corporate Debtor will only clear the amount upon the clearance by Petro China and even if any such condition is there, the doubt has already been cleared by M/S Petro China based on the request of Operational Creditor that all the amounts has been paid by them of Global Energy Talent, Gurgaon. Taking into consideration that all the above issues having been answered in view of the records produced and evident from it that an 'Operational Debt' is owed by the Corporate Debtor to the Operational Creditor in view of services rendered by it and a default has been committed by the Corporate Debtor in relation to the payment of Operational Debt without any plausible contention being put forth and the contentions sought to be raised it is seen as only sham or illusory. 1. In view of the above this the Tribunal is inclined to admit this application and accordingly init ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (I) of section 31 or passes an order for liquidation of respondent under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. 4. The Applicant is directed to pay a sum of to the interim resolution professional ("IRP") upon the IRP filing the necessary declaration form as required under the provisions of the Code to mete out the expenses to perform the functions assigned to him in accordance to Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 5. Based on the above terms, the Application stands admitted in terms of Section 9(5) or IBC, 2016 and the moratorium shall come in to effect as of this date. A copy of the order shall be communicated to the Applicant as well as to the Respondent above named by the registry. In addition a copy of the order shall also be forwarded to IBBI for its records. Further the IRP above named who is figuring in the list of resolution p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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