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TMI Blog2019 (1) TMI 1704X X X X Extracts X X X X X X X X Extracts X X X X ..... n in respect of a claim which is due from any person, further, a financial debt has been clarified to mean and include money borrowed against payment of interest - petition merits admission. Petition admitted - moratorium declared. - (IB) 1018 (ND)/2018 - - - Dated:- 14-1-2019 - Smt. Ina Malhotra, Judicial Member And Ms. Deepa Krishan, Technical Member Vipul Srivastav and Rajindera Vats, Advs., for the Petitioner. Mandeep Singh and Ms. Anjali Sharma, Advs., for the Respondent. ORDER Ms. Deepa Krishan, The present petition has been filed under Section 7 of the Insolvency Bankruptcy Code. 2016, (hereinafter referred to as the Code ), praying for initiation of Corporate Insolvency Resolution Process of the Respondent/Corporate Debtor on grounds of their inability to liquidate the financial debt. 2. The applicant Sharad Vadehra, resides at B-483, Meera Bagh, Paschim Vihar, New Delhi-110063. 3. The Respondent Corporate Debtor, M/s Homestead Infrastructure Development Private I-Id is a company incorporated on 22.11.2011. It has an wholly owned subsidiary, namely, M/s. Golden Peacock Residence Private ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Rs.) 1. 27.06.2012 40.00,000/- 27.06.2012 40,00,000/- 2. 27.08.2012 59,00,000/- 15.10.2012 59,00,000/- 3. 06.02.2013 1,03,72,469/- 26.03.2013 97,59,094/- 4. 12.05.2014 86,64,843/- 10.06.2014 85,78,195/- 5. 26.09.2014 73,67,384/- 20.10.2014 72,07,929/- 6. 20.02.2015 72,80,734/- 11.03.2015 11.03.2015 36,03,936/-36,03,936/- Total 4,35,85,430/- 4,26,53,144/- 4.7 It is also the case of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The respondent has also submitted that the filing of the present application is an act of dishonesty is also borne out from the fact that the financial creditor has filed a consumer complaint against the subsidiary company of the corporate debtor before the National Consumer Disputes Redressal Commission, which is still pending. The same is numbered as Consumer Case No. 709 of 2017, and the last order passed therein, available from the website of the National Commission, is annexed with the Reply. It is stated that the financial creditor is fully aware that it does not have a cause of action against the corporate debtor, but has nevertheless filed the present application to pressurize it into paying up a debt not owed by it. 6. We have gone through the record and arguments made before us. It is submitted by the respondent that there is no privity of contract with the applicant and the respondent. However, as per the averments made by the Financial Creditor, the Corporate Debtor had induced him to book the flat with them. They had instructed the allotees to make payment and enter into an agreement with one of their wholly owned subsidiaries. It is at their direction that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RA Co-owner R/0 B-483. Meera Bagh Paschim Vihar New Delhi 110063 Sub: Intimation of Due Installment for your Unit No-1803 Dear Sir/ Madam. This is with your reference to your booking of unit no: 1803 admeasuring 6126 sq.ft. in our project namely MICHEL SCHUMACHER WO TOWER situated in sector-109, Gurgaon. Haryana. As per the payment plan agreed and accepted by you. the next payment request is due for the pay at On Casting of Ground Floor Slab . In terms of the payment plan opted by you, you are requested to remit amount as detailed below: S. No Particular Arrears Amount Due Service Tax Total Amount Due Outstanding Amount 1 Basic-Sales price 4,678,609 173,482.82 4,852,091.82 4,852,091 2 PLC 2,082,84 257, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 900000 3 Bhk 1150 4200000 500000 500000 30000 1300000 Net Price is Inclusive of EDC/IDC. Car Parking, IFMS Net Price is exclusive of Club Charges. PLC PBIC Service Tax other government taxes as applicable All cheques will be in favour of Homestead Infrastructure Development Pvt Ltd'. vi. Homestead Presents Most Awaited City of Homestead Sharadvohra [email protected] To: Tanya Bector [email protected] I am sure you are not constructing this in thin air. Please share the location of the project and the clearances that you obtained for the same as of dale. With best wishes, Sharad vadehra On Aug 5, 2014 at 3:19 PM, Tanya Bector [email protected] wrote: Dear all PFA the details of the upcoming project City of Homestead . Price Starts from ₹ 13 lac Onwards. Construction linked Plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th together named as party of second part and styled as developers . from the record it is seen that the developing and marketing right of the land were transferred by the M/S Raheja Developers Limited to both these parties jointly. Homestead Infrastructure Development Pvt. Ltd. advertised these project and sought booking for the same. All the initial correspondence of the Financial Creditor regarding this property is with the Corporate Debtor i.e. Homestead Infrastructure Development Pvt Ltd only. However on the direction of the corporate debtor the Financial Creditor issued cheques to M/S Golden peacock Residence Private Limited who issued the receipts for the same. 7.3 It is also noteworthy to mention here that as per the mail dated 07.06.2014 the Corporate Debtor i.e., M/S Homestead Infrastructure Development Pvt. Ltd has itself asked the financial creditor to draw the cheque in the name of M/S Golden Peacock Residence Private Limited. This mail is reproduced below: Tanya Bcctor [email protected] To: Sharad Vadehra [email protected] Dear Mr. Vadehra Greetings for the day. Please find below the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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