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TMI Blog2021 (6) TMI 205X X X X Extracts X X X X X X X X Extracts X X X X ..... 1956 and the Registered Office Address as per the Application is stated to be situated at Sf. No. 10/1, 13/1, Moolakkattu Thottam, Karaipudur Village, Arulpuram Post, Tirupur, Tamil Nadu - 641 605. Part - III of the Application discloses the fact that the Applicant has not proposed the name of the Interim Resolution Professional and left it to the discretion of this Adjudicating Authority (hereinafter for brevity referred as "AA") to appoint the same. 3. Part - IV of the Application discloses about the details of the debt from which it is seen that a total sum of Rs. 80,00,000/- (Rupees Eighty Lakhs Only) is claimed to be in default, excluding interest and the date of default is stated to be April 2018. The present Application is filed before this AA on 10.01.2020. 4. The Learned Counsel for the Operational Creditor submitted that they have been providing the service of Operation and Maintenance and Management services to Zero Liquid Discharge facility at Karaipudur Common Effluent Treatment, which belongs to the Corporate Debtor and was also supplying various utilities and consumables. The Operational Creditor was providing services based upon an Agreement entered into between ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 9(3)(b) of IBC, 2016 wherein it has been stated that the Corporate Debtor has neither disputed the amount nor paid the outstanding sum to the Operational Creditor. Under the circumstances, the Learned Counsel for the Operational Creditor submitted that the debt and default on the part of the Corporate Debtor is proved and prayed for the initiation of the Corporate Insolvency Resolution Process against the Corporate Debtor. 7. The Corporate Debtor has filed counter and it was submitted by the Learned Counsel for the Corporate Debtor that the Respondent has appointed one Mr. Suruli Murugan, as the Manager and the liaison officer for the Respondent in respect of all things pertaining to the Operational Creditor and that the said Mr. Suruli Murugan has colluded with the Operational Creditor and began to siphon the amount from the Corporate Debtor by raising false bills. It was submitted by the Learned Counsel for the Corporate Debtor that without carrying any due diligence, the Corporate Debtor and its Directors have executed the Memorandum of Understanding on 22.08.2019, agreeing to make a sum of Rs. 1.30 Crore to the Operational Creditor. Further, it was submitted that after ter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tter with the Operational Creditor, however the said Application has not been listed for hearing before this Tribunal till date and in the said circumstances, untrammeled by the facts which are stated in the said Application for settlement, this AA proceeds to pass orders in the present Application. 10. From the facts, narrated above it is seen that the issue which is required to be decided delves around the fact as to the Memorandum of Understanding dated 22.08.2019, wherein the parties have arrived at a consensus, in and by which the Corporate Debtor is required to pay a sum of Rs. 1.30 Crore and thereby the Corporate Debtor having paid a sum of Rs. 50 Lakh whether can now, at this point of time raise a dispute as to the remaining sum of Rs. 80 Lakh. 11. A perusal of the typed set of documents filed along with the counter shows that the Corporate Debtor has placed on record the letter of dispute, all of which pertains to the period after issuance of the Demand Notice. In this context, it is necessary to refer to Section 8 of IBC, 2016 8. Insolvency resolution by operational creditor.- (1) An operational creditor may, on the occurrence of a default, deliver a demand notice o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in allegations towards the Operational Creditor, which cannot be considered as 'dispute' in terms of Section 8(2)(a) of IBC, 2016. 14. Thus, from the discussion made supra and from the documents placed in support of the claim being made in Part IV of the Application, it is seen that the Corporate Debtor is liable to pay the said sum of Rs. 80 Lakh to the Operational Creditor as per the Memorandum of Understanding dated 22.08.2019 and has committed a default in payment of the same. 15. Further, the said debt has fallen due on the last date of invoice being 05.11.2019 and the present Application is being filed before this Tribunal on 10.01.2020 and hence the present Application falls well within the period of limitation. 16. Thus the Operational Creditor has proved the existence of an 'Operational debt' and the Corporate Debtor has committed 'default' in the repayment of the said 'Operational debt' to the Operational Creditor and in the said circumstances we are constrained to initiate the Corporate Insolvency Resolution Process in relation to the Corporate Debtor. 17. Further in relation to the 'Pecuniary Jurisdiction' even though the ' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; d. The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the respondent. Explanation.-For the purposes of this sub-section, it is hereby clarified that notwithstanding anything contained in any other law for the time being in force, a licence, permit, registration, quota, concession, clearance or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of the license or a similar grant or right during moratorium period; 19. However, during the pendency of the moratorium period in terms of Section 14(2)(2A) and 14(3) as extracted hereunder: (2) The supply of essential goods or services to the Corporate Debtor as may be specified shall not be terminated or suspended or interrup ..... X X X X Extracts X X X X X X X X Extracts X X X X
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