9911796707
TMI Blog2021 (6) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... certificate of analysis dated 09.05.2019 and 18.05.2019. The instant petition filed by the applicant is well within limitation and there is no pre-existing dispute regarding the operational debt from the side of the corporate debtor - from the material placed on record by the Applicant, this Authority is satisfied that the application is complete in all respect and the Corporate Debtor committed default in paying the operational debt due and payable to the Applicant. The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt' - Petition admitted - moratorium declared. - MP/CP (IB) No. 22/9/NCLT/AHM/2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner had supplied 110 metric tonnes of fuel oil at the rate of ₹ 31,000/- per metric tonne, had raised e-way bill and invoices, all dated 6th May, 2019, for a total amount of ₹ 38,95,952/- (Rupees thirty-eight lacs ninety-five thousand nine hundred fifty-two only), delivery of the goods was acknowledged by the corporate debtor without raising any dispute thereto. 5. The applicant has further submitted that, despite repeated reminders, till date, the corporate debtor has not made payment and the debt became due on 6th May, 2019, therefore, this petition. 6. The petitioner filed the present petition supported with copies of purchase order dated 6th May, 2019, five invoices all dated 6th May, 2019, copy of demand notice dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d notice dated 08.07.2019 issued by the petitioner through advocate, delivered to the respondent on 11.07.2019, is replied by the respondent vide email dated 20.07.2019. As per the records available, for the first time, by email dated 20.08.2019 (page 52), the respondent has complained that the goods supplied by the applicant has been rejected and ₹ 500/- per M.T. per month will be charged towards storage charges. The subsequent emails dated 26.08.2019, 31.08.2019, 02.09.2019 (page 51), 06.09.2019, 09.09.2019, 21.09.2019 (page 49), 3.10.2019, 8.10.2019 and 21.10.2019 addressed to the applicant by the respondent show that the respondent kept on asking the applicant to take back the goods supplied on 06.05.2019. It is pertinent to menti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the order and has raised the issue of quality/specifications of the product as a moonshine defence for not paying the operational debt. Had there been any serious issue with regard to specification/quality of the product supplied by the applicant, the respondent could have returned the product immediately on receipt of certificate of analysis dated 09.05.2019 and 18.05.2019. 14. The Adjudicating Authority is only required to consider whether there is any default and the debt is due and payable. In the instant case, the applicant has placed on record enough documents evidencing the default and hence, the present application deserves to be admitted. 15. On perusal of the record it is also found that the instant petition filed by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as discussed herein above, in the light of the Hon'ble Supreme Court Judgment and the provisions thereof as enshrined in Insolvency Bankruptcy Code, this adjudicating authority is of the considered view that operational debt is due to the Applicant and it fulfilled the requirement of I B Code. No dispute has been raised by the respondent at any point of time. That, Applicant is an Operational Creditor within the meaning of Section 5 sub-section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default and the amount claimed by operational creditor is payable in law by the corporate debtor as the same is not barred by any law of limitation and/or an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (ii) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (iii) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (iv) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 23. It is further directed that the supply of goods and essential services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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