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TMI Blog2019 (12) TMI 1392X X X X Extracts X X X X X X X X Extracts X X X X ..... me barred and the present application is well within the limitation period. The present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt, more so when the debt has remained undisputed in spite of service of section 8 notice and the present application. Requirements under section 9(5) of the Code are fulfilled. Hence, the present application is admitted. Application admitted - moratorium declared. - Company Petition No. IB-1123/ND/2019 - - - Dated:- 16-12-2019 - Ina Malhotra, Member (J) and Hemant Kumar Sarangi, Member (T) For the Appellant : Radhika Rai, Adv. For the Respondents : Varun Jain and Faraz Mohd, Advocates ORD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is ₹ 10,0,00,000/- (Rupees Ten Crore) and Paid Up Share Capital of the company is ₹ 6,00,45,000/- (Rupees Six Crore Forty Five Thousand) as per Master Data of the company. 4. It is the case of the applicant that, the Corporate Debtor engaged Operational Creditor for supply of quartz powder and accordingly, same was delivered from time to time by the Operational Creditor, at the factory of Corporate Debtor till 09.07.2016. Accordingly, following invoices were raised at the time of shipment of products and copy of invoices were served to the Corporate Debtor; DATE PARTICULARS AMOUNT 11.02.2016 Quartez Powder (SK-120) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... placed on record the postal receipt. 8. Operational Creditor further states that, after the delivery of Section 8 notice, the Corporate Debtor has given its reply dated 28.12.2018 to the said notice, however, no record of pendency of any suit or arbitration proceedings have been filed, before the receipt of Demand Notice issued by Operational Creditor, as required under Section 8(2)(a) of the Insolvency and Bankruptcy Code, 2016. 9. Hence, the present application under section 9 of the IBC, 2016 was filed by the applicant to initiate CIRP. The learned counsel for the applicant has also filed affidavit of service, stating service has been effected through email on 13.06.2019, at the email address mentioned in MCA Records. Service has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and had assured that he will not claim any amount whatsoever for supply of the quartz powder from Respondent. The Respondent, further states that it has also suffered loss of ₹ 2,08,800/- (Rupees Two Lakhs Eight Thousand Eight Hundred), since it had paid transport charges to the transporters for the quartz powder supplied by the Operational Creditor. 12. Pursuant to the reply of the Corporate Debtor, the Operational Creditor has filed its rejoinder, in its rejoinder the Applicant states that, the Operational Creditor has supplied quartz powder of best quality to the Corporate Debtor as demanded by the Corporate Debtor from 15.09.2015 to 09.07.2016, it is relevant to mention here that the Corporate Debtor received first consignment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in terms of section 9(3)(b) of the Insolvency and Bankruptcy Code, 2016 but no record of the pendency of the suit or arbitration proceedings been filed before the receipt of Demand Notice issued by Applicant/Operational Creditor as required under Section 8(2)(a) of the Insolvency and Bankruptcy Code, 2016 . 15. In Innoventive Industries Ltd. , the Hon'ble Supreme Court held that pre-existing dispute is the dispute raised before demand notice or invoices was received by the 'Corporate Debtor'. Any subsequent dispute raised while replying to the demand notice under Section 8(1) cannot be taken into consideration to hold that there is a pre-existing dispute. 16. In Mobilox Innovations Pvt. Ltd. Vs. Kirusa Software (P) Limi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C 2016. 19. The registered office of respondent is situated in New Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 20 On perusal of the record it is clear that the default has occurred on 25.07.2016 when the last invoice fell due. Hence, the claim is not time barred and the present application is well within the limitation period. 21. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt, more so when the debt has remained undisputed in spite of service of section 8 notice and the present application. Requirements under section 9(5) of the Code are fu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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