9911796707
TMI Blog2021 (6) TMI 351X X X X Extracts X X X X X X X X Extracts X X X X ..... autionary measure, the applicant has filed bankers certificate issued by HDFC bank is annexed. 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 filed within limitation. The date of default is 2014 as per the invoice and the first application was filed in 2017. Thereafter, due to dismissal of the said application on technical ground, fresh application filed in 2018. In 2019 the corporate debtor admitted the debt while settling the matter on 02.09.2019. Hence, the debt is not time barred and the application is filed within the period of limitation. Application admitted - moratorium declared. - Company Petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the corporate debtor had placed three purchase orders dated 12.10.2014 for total amount of ₹ 63,213,672/- to the applicant. The payment terms under the purchase orders required the corporate debtor to make payment within a stipulated time frame. 5. The Applicant submits that the goods were supplied in terms of the purchase orders. The Corporate Debtor accepted the delivery of goods without any demur, as to the price of the goods, quality, delivery, quantity etc. Thus, the applicant herein has delivered goods of the required specification without any delay. 6. The Applicant submits that invoices were raised on 27.10.2014 28.10.2014 and required the Corporate Debtor to pay interest @ 24% for delayed payment. The Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , for non compliance of section 9(3)(c) of the code as the Applicant was unable to produce a bank certificate for the entire duration, commencing from the originating point of the transaction between the parties till the date of filing of the application. 11. The Applicant, issued a fresh demand notice dated 30.10.2017 under section 8 of the I B Code, 2016, (Under Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 calling upon to pay the outstanding amount of ₹ 67,67,218.30/- that comprises principal amount of ₹ 40,20,500/- due against invoices and ₹ 27,46,717.81/- towards interest. The notice was duly delivered at the registered office of the Corporate Debtor on 06.11.2017 as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... L was security amount and not against the discharge of liability of corporate debtor. The applicant had wrongly tried to encash the security cheque which was of higher amount and not the amount payable by the corporate debtor. iii. That the present application is barred by principles of res judicata, as the application filed under section 9 by the applicant for the said claim as of this application, is already dismissed order of which is already on record. There cannot be adjudication of the claim which is already decided prior by any authority. 15. The applicant has filed a rejoinder controverting the averments made in the reply and has denied all the averments as made in the reply of the corporate debtor. The applicant submits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r ₹ 35,00,000/- was not realized and the cheque when deposited was dishonored for the reason of insufficient funds'. A copy of the Cheque along with Bank Memo is annexed. That in view of the dishonor of the cheque a notice of demand is issued under the provision of the Negotiable Instruments Act but till the date of filing of this Application no payment is made. 17. In view of breach of the settlement filed before the court by the parties, the interim application was filed by the applicant seeking revival of the IB-843/ND/2018, which was allowed on 06.01.2021. 18. The Corporate Debtor did not appear in spite of the service of the interim application, hence, the corporate debtor was proceeded ex-parte on 06.01.2021. 19. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubject to the condition that no disciplinary proceedings are pending against such an IRP named who may act as an IRP in relation to the CIRP of the Respondent and specific consent is filed in Form 2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 and make disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulations, 2016 within a period of one week from the date of this order. 24. We direct the Operational Creditor to deposit a sum of ₹ 2 lacs with the Interim Resolution Professional, namely Mr. Manoj Kulshrestha to meet out the expense to perform the functions assigned to him in accordance with regulation 6 of Insolvency and Bankruptcy Board of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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