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TMI Blog2020 (12) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... o debt nor raised any dispute relating to quality of service of goods. They merely shown the difference of the date on which the amount claimed and that they have already credited an amount of ₹ 3,00,000/- which is not shown in the extract of the bank statement provided in the application. Hence the Operational Creditor is indenting to grab money illegally from the Corporate Debtor claiming an exorbitant interest. The statement made by the Corporate Debtor cannot be termed as a pre-existing dispute or plausible dispute. The present application is complete in all respects and the applicant is entitled to claim its dues. The applicant succeeded in establishing the default in payment of the operational debt beyond doubt. In view of the above, the instant petition deserves to be admitted. Petition admitted - moratorium declared. - Hon ble Shri Ashok Kumar Borah, Member (Judicial) For the Operational Creditor : Shri Jerin Asher Sojan, Advocate For the Corporate Debtor : Shri Vishnu Hari.K. Advocate ORDER This Insolvency and Bankruptcy Application has been filed by Antony Joseph Proprietor of En Tech ADP (hereinafter called Operational Creditor ) against M/s. ICICLES HVAC Experts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 8 of the Insolvency and Bankruptcy Code 2016, which was received by the Corporate Debtor on 06.09.2019. 6. It is also stated that the respondent has not disputed the amount of debt between the parties and relies on the judgment of the Hon ble Supreme Court in the case of Mobilox Innovations Pvt. Ltd. vs. Kirusa Software Pvt. Ltd. ((2018) 1 SCC 353). 7. The Corporate Debtor filed reply stating that the application is not maintainable before this Tribunal under Section 9 of I B Code since the resolution of dispute with respect to the claim do not come within the purview of the proceedings under Section 9 of the I B Code. As per Section 9 of the I B Code the application can be filed only if the Corporate Debtor fails to make the payment within 10 days from the date of delivery of the notice demanding payment by the Operational Creditor or notice of dispute under Section 8 (2) by the Respondent to the Operational Creditor. It is further stated that the Corporate Debtor in reply to the demand notice has also informed the Operational Creditor about the existence of the dispute with respect to the claims made by the Operational Creditor. The application deserves to be prime facie dismis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lication regarding the details of Transactions on account of which debt fell due , the Operational creditor is claiming amounts for the invoices raised from 13.04.2018. However, the Corporate Debtor has made a credit of ₹ 3,00,000/- (Rupees Three Lakhs Only) in the account of Operational Creditor on two occasions (₹ 1,00,000/- on 26.04.2018 and ₹ 2,00,000/- on 28.05.2018) towards the transaction with the Operational Creditor. However, the Operational Creditor has clandestinely hidden/ignored these payments and not mentioned the same in this application and approached this Tribunal with malafide intentions to try and grab extra money from the Corporate Debtor. 11. The Corporate Debtor further stated that the Operational Creditor cannot claim interest for the dates before the date of cause of action as mentioned in the application. The interest calculated is also not in accordance with the payments made by this Respondent to the Operational Creditor. The Operational Creditor has made the calculations with malafide intentions. There is no amount as claimed which is due to the Operational Creditor from the Respondent. This Respondent had informed the Operational Credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal did not come across any record which would show that a dispute that was pre-existing apart from that of a hypothetical or illusory dispute which has been raised by the Corporate Debtor . 16. Hence, it is clear that the Corporate Debtor has not raised any dispute relating to debt nor raised any dispute relating to quality of service of goods. They merely shown the difference of the date on which the amount claimed and that they have already credited an amount of ₹ 3,00,000/- (Three lakhs only) which is not shown in the extract of the bank statement provided in the application. Hence the Operational Creditor is indenting to grab money illegally from the Corporate Debtor claiming an exorbitant interest. The above statement made by the Corporate Debtor cannot be termed as a pre-existing dispute or plausible dispute. 17. For the aforesaid findings, the present application is complete in all respects and the applicant is entitled to claim its dues. The applicant succeeded in establishing the default in payment of the operational debt beyond doubt. In view of the above, the instant petition deserves to be admitted. 18. The Operational Creditor has suggested the name Mr. Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... process shall be made immediately as specified under section 13 of IBC. 20. That the order of moratorium against the Corporate Debtor shall have effect from the date of pronouncement of this order till the completion of the CIRP or until this Bench approves the resolution plan under Sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, as the case may be. 21. That the public announcement of the CIRP shall be made immediately as specified under Section 13 of the Code. 22. That this Bench hereby appoints Mr. Dileep K.P having Registration No. IBBI/IPA-001/IP-P-01310/2018-2019/12220, email id- [email protected] residing at Veluthedath (h), Ponnurunni Vytilla P.O, Cochin-68201, Ernakulam, Kerala-682028, as Interim Resolution Professional to carry out the functions as mentioned under the Code. The fee payable to IRP, or, as the case may be the RP, shall comply with such Regulations, Circulars and Directions as may be issued by the Insolvency Bankruptcy Board of India (IBBI). The IRP/ RP shall carry out his functions as contemplated by Sections 15, 17, 18, 19, 20 and 21 of the IBC. 23. The Registry is directed to communicate this order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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