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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 ..... brevity 'Applicant') through Mr. Neeraj Aggarwal, the Director of the applicant company, duly authorized vide Board Resolution of the applicant dated 20th May 2019, with a prayer to initiate the Corporate Insolvency process against Greatech 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 Rs. 5,00,00,000/- and the paid- up capital of the company is Rs. 80,07,860/- The applicant is involved in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suit in favour of the applicant herein. The said suit was filed for recovery of entire claim against the unpaid invoices, as recorded in the decree. 7. Thereafter the applicant submits that an Execution Petition bearing 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 Rs. 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 callin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petition before the Ld. ADJ -05, Saket Court, new Delhi, which is also pending adjudication. c) There exist a dispute regarding the terms of payment including set off and the corporate debtor has approached the applicant to settle the matter, further the corporate debtor submits that the amount of Rs. 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 debto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s required u/s. 9(3)(c) of I & B Code. The Applicant has filed an affidavit under section 9(3)(b) dated 06.02.2020 affirming that no notice of dispute 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 Ku ..... X X X X Extracts X X X X X X X X Extracts X X X X
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