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TMI Blog2019 (12) TMI 894X X X X Extracts X X X X X X X X Extracts X X X X ..... t evidence to prove its claim. There was a default in payment of claimed amount, and the respondent failed to establish the fact that there is a pending dispute between the parties in respect of the amount claimed. Moreover, the respondent has also filed an affidavit in which it has been submitted that Respondent is not in the position to honour the debt owed to the Operational Creditor - In light of the same, such application deserves to be admitted for triggering Corporate Insolvency Resolution Process against the respondent corporate debtor. Besides, the respondent had not issued any notice of dispute after receiving demand notice in terms of Section 8 of the Code. The present petition is complete and there has been default in payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under sub-section (1) of Section 60 of the Code. 3. It is the case of the applicant that on 16.01.2012 the Corporate Debtor issued an Appointment Order to the Applicant vide Letter No. BES/P10/12-1312 through which the Applicant was contractually appointed at the position of Liaison Officer initially for one year 15.02.2012 with a consolidated salary of ₹ 30,000/- per month. 4. Further The Applicant has submitted that the Corporate Debtor vide Letter No. TIPL/P-10/201-660A extended the appointment of the Applicant for further period of 2 years with effect from 16.02.2013 to 15.02.2015 on the same terms and conditions as mentioned in Appointment Order No.BES/P10/12-1312 dated 16.01.2012. 5. The Applicant ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alary due to the Applicant from October 2017 till April 2019. The Corporate Debtor has filed its reply dated 24.05.2019 to the demand notice stating its inability to pay the outstanding salary due to the applicant. 11. An affidavit dated 15.07.2019 verifying that the applicant has not received any letter of dispute from the corporate debtor towards the unpaid amount of debt under Section 9 (3) (b) of the Code, has been filed along with the application. 12. We have heard the parties and perused the case records. 13. It is pertinent to mention here that as per the order dated 01.08.2019 of this tribunal it is noted that the Corporate Debtor is not in a position to clear the debt that due presently. Hence this tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in force and payable to the Central Government, any State Government or any local authority; Operational creditor has also been defined at section 5(20) as follows: ' Operation Creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred'. 17. From the definition of Operational creditor and Operational Debt'', it can be seen that the applicant has provided services to the respondent and has placed sufficient evidence to prove its claim. There was a default in payment of claimed amount, and the respondent failed to establish the fact that there is a pending dispute between the parties in respect of the amount claim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Interim Resolution Professional immediately (3 days as prescribed by Regulations) with regard to admission of this application under Section 9 of the Code. 21. We also declare moratorium in terms of Section 14 of the Code. The necessary consequences of imposing the moratorium flows from the provisions of Section 14 (1) (a), (b), (c) (d). Thus, the following prohibitions are imposed: (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 asset ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated with the Management of the Corporate Debtor are under legal obligation under Section 19 of the Code to extend every assistance and co-operation to the Interim Resolution Professional as may be required by him in managing the day-to-day affairs of the 'Corporate Debtor'. In case there is any violation, the Interim Resolution Professional would be at liberty to make appropriate application to this Tribunal with a prayer for passing an appropriate order. The Interim Resolution Professional shall be under duty to protect and preserve the value of the property of the 'Corporate Debtor' as a part of its obligation imposed by Section 20 of the Code and perform all his functions strictly in accordance with the provisions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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