9911796707
TMI Blog2021 (6) TMI 352X X X X Extracts X X X X X X X X Extracts X X X X ..... h tensile'. The corporate debtor has failed to place on record any concrete evidence to prove that there was a genuine dispute which was raised prior to issuance of notice under section 8 and the said was duly communicated time and again to the applicant. The communication of the corporate debtor with its customers cannot be considered as disputes against the transactions with the applicant. There is no such dispute is pre-existing and we are convinced that the present dispute is patently feeble legal argument. The application being complete needs to be admitted - registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application - The last invoice was raised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered office at Survey No. 54/B Pratapnagar Jarod-Savli Road Samiaya Vadodara, Gujarat 391520. 3. The Corporate Debtor is a private limited company incorporated under the provisions of Companies Act, 1956 on 05.06.2008, having CIN U74120DL2008PTC179126. The applicant is having its registered office at 19/310/40, Old Rohtak Road Shehzada Bagh Near Daya Basti Railway Station New Delhi-110035. 4. The Applicant submits that in the usual course of business the Corporate Debtor placed purchase order with the applicant, goods were supplied and invoices were raised from 29.02.2016 to 09.08.2016 for total amount of ₹ 16,31,176/- by applicant. The payment was to be made by the corporate debtor within 60 days as per invoice terms. 5. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s about the products of the applicant and stopped making payment to the corporate debtor, causing losses. iii. That the corporate debtor under the agreement is entitled to commission @2.5% (ORC) which till date has not been paid by the applicant. iv. That the corporate debtor had to suffer losses because of the substandard material to the customer of the corporate debtor MR belting, by the applicant. The said customer had deducted the amount from the total bill and wrote a letter to not to supply substandard quality of the goods to the corporate debtor. v. That the firm Indag Rubber had out rightly rejected the material, which was intimated to applicant by the corporate debtor through email but the applicant chose to remain s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The rejection which corporate debtor is talking about is of the samples sent to the party and not the gods supplied. There were significant transactions between the parties especially of Super king Tyres and namely Reclaim Rubber and Rubber Crumb. v. That the corporate debtor has been making sham allegations against the applicant which is clearly evident from the email dated 04.05.2016 wherein firstly, the corporate debtor itself agrees that the product of the applicant is of superior quality and has 'technical advantage of high tensile' and the applicant maintained the quality of its goods supplied. 10. Heard both the sides and perused the documents on record, we observe that the default has occurred with respect to the pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is no such dispute is pre-existing and we are convinced that the present dispute is patently feeble legal argument. The application being complete needs to be admitted. 11. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 12. The last invoice was raised on 09.08.2016, and the present application was filed on 24.04.2018, hence the debt is not time barred and the application is filed within the period of limitation. 13. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt. The present applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 16. 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. 17. A copy of the order shall be communicated to the Applicant, Corporate Debtor and IRP above named, by the Registry. In addition, a copy of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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