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TMI Blog2020 (9) TMI 946X X X X Extracts X X X X X X X X Extracts X X X X ..... te debtor as mere reply filed by the corporate debtor to the present application, is unable to establish any pre-existing dispute of genuine nature. On the contrary the decree for recovery of dues passed by the Ld. ADJ Rohini Court, New Delhi dated 08.09.2016, belies its story of dispute and confirms the admission of liability of the corporate debtor. This leaves no doubt that the default has occurred for the payment of the operational debt for which the invoices were raised by the applicant and the so called dispute raised by the corporate debtor is merely a moonshine dispute. The dispute raised by the corporate debtor, is spurious, plainly frivolous and unable to categorize as genuine dispute as reproduced above. Hence, contention of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Telecom Technologies Private Limited for brevity 'Corporate Debtor'). 2. The Applicant is a private limited company incorporated on 19.01.2010 under the provision of Companies Act, 1956 bearing CIN No. U24222DL2010PTC198171 having its registered office at 502, Aggarwal City Plaza, Cyber Plaza, Netaji Subhash Place, New Delhi- 110034. The authorized share capital of the company is ₹ 5,00,00,000/- and the paid- up capital of the company is ₹ 80,07,860/- The applicant is involved in the business of selling poly propylene. 3. The Corporate Debtor is a private limited company incorporated on 0/12/2004, under the provisions of Companies Act, 1956 bearing CIN No. U64203DL2004PTC131153 and having its registered office at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng No. 7 of 2017 was filed before the Rohini Court, Delhi wherein the Ld. ADJ was pleased to order attachment of Bank Accounts of the corporate debtor and an amount of ₹ 9218/- was recovered from the said attachment account. Thereafter the Ld. ADJ issued a transfer certificate of the said decree to the South West District as the immovable properties of the corporate debtor falls under the jurisdiction of South west District. 8. The applicant submits that on 06.04.2019, a demand notice under Section 8 of the I B code calling upon the corporate debtor to pay the total outstanding amount of ₹ 25,04,630/- (including the Decree amount of ₹ 16,44,550 along with interest of ₹ 8,50,944/- calculated @ 12 %p.a. from 28.04.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the corporate debtor has approached the applicant to settle the matter, further the corporate debtor submits that the amount of ₹ 10,02,957/- was only due and payable in the name of the subsidiary firm Royale Industries and no dues are payable to the applicant. d) The applicant is not an operational creditor within the meaning of the Insolvency and Bankruptcy Code. 13. The applicant in its rejoinder raised the following objection and submits: a) That the corporate debtor has failed to provide a proper authority letter. b) The Appeal filed by the corporate debtor before the Hon'ble Delhi High Court is barred by limitation as the diary number mentioned by the corporate debtor is of March 2017 and impugned order is of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the invoices were raised by the applicant and the so called dispute raised by the corporate debtor is merely a moonshine dispute as laid down In Mobilox Innovative Private Limited vs. Kirusa Software Private Limited , the Hon'ble Supreme Court observed that It is clear, therefore that once the Operational creditor has filed an application, which is otherwise complete, the adjudicating authority must reject the application under Section 9(5)(2(d) if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. It is clear that such notice must bring to the notice of operational creditor the existence of a dispute or the fact that a suit or arbitration proceeding relating t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been given by the Corporate debtor relating to dispute of the unpaid operational debt. 18. The date of decree passed by the Ld. ADJ Rohini Courts New Delhi is 08.09.2016, as the date of default and the present application is filed on 06/06/2019. Hence the application is not time barred and filed within the period of limitation. 19. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 20. Since the Applicant has not named the Insolvency Resolution Professional, this Bench appoints Mr. Manish Kumar Aggarwal, having email id: [email protected] and registration No. IBBI/IPA-002/IP- N00916/2019-20/12929 as the Interim Resolution Prof ..... X X X X Extracts X X X X X X X X Extracts X X X X
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