9911796707
TMI Blog2020 (1) TMI 1440X X X X Extracts X X X X X X X X Extracts X X X X ..... g that in respect of the amount claimed or any part thereof, the Applicant has not received nor had any person, on its behalf had received in any manner the amount due to them - The application is complete as per the requirements of section 9 of the code. The invoice was raised on 01.04.2017 and the application is filed on 14.08.2019 which is within the period of limitation - The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. The present application is complete and perusing the documents on records it goes beyond doubt that the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt, which has remin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vijay Block, Laxmi Nagar New Delhi-110092. 4. The Applicant states that an Listing Agreement dated 07.01.2000 was executed between the applicant and the corporate debtor pursuant to which the securities of the corporate debtor were allowed to be listed, and consequently traded on the platform provided by the applicant. Copy of listing agreement is annexed. The said listing agreement as per clause 38 provided that the corporate debtor would pay an Annual Listing Fee ( ALF ) on or before 30th April in each year and the said ALF would be computed on the basis of the capital of the company as on 31st March every year. The extracts of the clause 38 from the agreement are reproduced herein: 38. The company agrees that as soon as its secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay be specified/levied by the exchange from time to time within the prescribed period. 6. The applicant has submitted that the corporate debtor had made payments of the ALF till F.Y 2013-14, and thereafter the corporate debtor failed to pay the amount. The applicant issued consolidated invoice dated 01.04.2017 on the corporate debtor which included ALF for the FY 2017-18 and the arrears of ALF from 2014-15 to 2016-17 along with the interest on delayed payments. However, the corporate debtor had avoided and neglected to pay such fees. The outstanding amount is mentioned as follows: i. ALF for the FY 2014-15 amounting to ₹ 1,00,000/- along with applicable taxes and interest for delayed payment. ii. ALF for the FY 2015-16 am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or has neither appeared in the matter nor replied to the application and the matter was proceeded exparte on 19.09.2019. 10. The Applicant has filed an affidavit under section 9(3)(b) affirming that no notice of dispute has been given by the Corporate debtor relating to dispute of the unpaid operational debt. 11. The Applicant has filed the bank certificate of HDFC Bank dated 23.01.2019 as required u/s. 9(3)(c) of I B Code, affirming that in respect of the amount claimed or any part thereof, the Applicant has not received nor had any person, on its behalf had received in any manner the amount due to them. 12. The application is complete as per the requirements of section 9 of the code. The invoice was raised on 01.04.2017 and the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016. The needful shall be done within one week from the date of receipt of this order by the Operational Creditor. The amount however be subject to adjustment by the Committee of Creditors, as accounted for by Interim Resolution Professional, and shall be paid back to the Operational Creditor. 17. As a consequence of the application being admitted in terms of Section 9(5) of IBC, 2016, moratorium as envisaged under the provisions of Section 14(1), shall follow in relation to the Corporate debtor, prohibiting as per proviso (a) to (d) of the Code. However, during the pendency of the moratorium period, terms of Section 14(2) to 14(4) of the Code shall come in force. 18. In terms of the above order, the Application stands admitted in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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