9911796707
TMI Blog2020 (10) TMI 322X X X X Extracts X X X X X X X X Extracts X X X X ..... he process of CIRP. In the present case, as stated earlier, a series of mails have been exchanged from the valid mail of the corporate debtor. The retention bonus has become due only on completion of the term, hence, it appears to be a case where such payment is not made merely for the reason that services have already been obtained which is quite commonly observed in real business situations when intention becomes not to pay. There is no merit in the contention of the corporate debtor for the reason that no specific format has been provided in the IBC or regulations made thereunder. In our view such Power of Attorney has been properly executed as per general practice. We are further of the view that the Doctrine of Substance over Form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and sent mail to the operational creditor to that effect. The operational creditor pursued with the corporate debtor through various emails thereafter. However, ultimately, the dues have not been paid. 2. The Ld. Counsel for the operational creditor appeared and narrated the facts. He also drew our attention to the relevant clause of the employment agreement to substantiate its claim regarding dues of the operational creditor. Our attention was also drawn to various emails. On query from the Bench regarding the maintainability of this application on the grounds of limitation, our attention was drawn to page 33 of the paper book which contained the email from the corporate debtor narrating the fact of financial constraints and in the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us illness, proper Power of Attorney had been made. 5. We have considered the submissions made by both parties and have also perused the material on record. Notice under section 8 has been duly served, hence, the first primary condition is met. It is noted that rendering of service by operational creditor as per the terms and conditions of employment agreement is not in dispute. The amount claimed are based upon the terms and conditions of such agreement. It is further noted that a series of emails have been written by the operational creditor to the person belonging to the corporate debtor who has also responded from time to time. The authority of the person who has written the mail in January 2019 has not been challenged. Further, no m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C 2016 so that its objectives to promote entrepreneurship and economic growth coupled with balancing of interest of all stake holders are achieved. 7. Name of IRP has not been proposed which is not mandatory for application made under Section 9 of IBC. Hence, we will appoint the IRP from the approved list maintained by IBBI. In case such person does not accept the assignment, then another person would be appointed. 8. Thus, considering the overall facts and above discussions, we are of the view that this application is liable to be admitted. The application is otherwise complete in all respects. We admit the same and order as under: ORDER i. The application filed by the Operational Creditor under section 8 and 9 of the Insolve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. v. The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated, suspended, or interrupted during moratorium period. vi. The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. vii. The order of moratorium shall have effect from the date of admission till the completion of the corporate insolvency resolution process. viii. Provided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority ..... X X X X Extracts X X X X X X X X Extracts X X X X
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