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TMI Blog2019 (11) TMI 1489X X X X Extracts X X X X X X X X Extracts X X X X ..... rvices or (iii) in relation to employment or iv) in respect of payment of dues arising under any law for the time being in force and payable to the Central Government, State Government or any local authority. Unless the Applicant claiming to be an Operational Creditor, is able to bring the transactions within the one of the above four categories, even though the Applicant might have a valid claim against the Respondent, however, cannot bring it within the fold of an Operational Debt and thereby an Operational Creditor It is evident from the transactions that as between the Operational Creditor and the Corporate Debtor, there has been no supply of goods or rendition of any services by the Applicant to the Respondent. Further, the clai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The particulars of the Corporate Debtor has been given in Part-II of the prescribed Application which discloses that the Corporate Debtor was incorporated on 06.05.1955 and Corporate Identification Number as L51909TN1955PLC002431 and that the nominal share capital and the paid-up capital has been disclosed as ₹ 220,00,00,000/- and ₹ 58,52,02,640/- respectively and the registered office of the Corporate Debtor is stated to be situated at the address given below:- SICAL Logistics Ltd., Door No.73, Armenian Street, George Town, Chennai-600 001 Branch Office (Trucking Division) at 131, G.N.T. Road, Ponniammanmedu, Madhavaram, Chennai - 600 110. 3. Part-Ill of the prescribed Application does not pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been enclosed as annexure 2 to 5 of the Application. Further, this Application has been preferred under the authorization given to the Assistant General Manager, State Bank of India, Stressed Assets Management Branch, No.32, Montieth Road, Red Cross Building, Egmore, Chennai - 600 008, the Authorization Letter is enclosed at page 6 of the typed set filed along with the Application. 6. In addition to the Application and the typed set filed along with the Application, the Applicant has also chosen to file additional typed set of documents while this matter was pending before this Authority on 11.10.2019 along with Rejoinder Affidavit filed on behalf of the Applicant and also brought to the notice of this Authority, the Order of Hon'bl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntention that the debt is barred by limitation is also been taken by the Corporate Debtor in view of Section 238A of the I B Code, 2016 and that the time period as prescribed by Article 137 of the Schedule under the Limitation Act, 1963, is 3 years and even as per the prescribed format as filed by the Applicant, it is evident that the Applicant claims that the debt fell due as on 10.04.2008. 9 Further, the Common Order passed by the Recovery Officer of DRT-II Chennai in IA-798/2007 and IA-799/2007 in DRC No.34/2007 is also sought to be challenged as null and void and that the said Order has been passed without jurisdiction by the Recovery Officer, DRT-II, Chennai. The Reply also seeks to bring to the notice of this Tribunal that the good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tation is to be reckoned, it should be from 03.01.2019. 11. The Learned Senior Counsel for the Applicant during the course of submissions also points out to the Order of Attachment as passed by the Recovery Officer of DRT-II Chennai in IA-798/2007 and IA-799/2007 in DRC No.34/2007 (OA 51/2005) and draws particular attention to the item No.6 of the said Order of Attachment. The endorsement made by the Learned Recovery Officer on 06.09.2007 on his hand is also pointed out by the Learned Senior Counsel for the Applicant, in addition to the seal of the Respondent herein having been affixed therein as evidence of the service of the Order of Attachment upon the Respondent for due compliance, and in the circumstance, the Respondent could not ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claiming that the Operational Debt is due from the Respondent and that the default has been committed with respect to the same. Looking to the definition of the terms Operational Creditor and the Operational Debt as defined under Section 5 (20) and (21) as extracted below from the I B Code, 2019:- (20) operational 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; (21) operational debt means a claim in respect of the provision of goods or services including employment or a debt in respect of the 1 [payment/ of dues arising under any law for the time being in force and payable to the Central Government, any State Government or a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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