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TMI Blog2021 (6) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... he averments made in the Application that the Corporate Insolvency Resolution Process (CIRP) in relation to the Corporate Debtor viz., M/s. Unique Roof Private Limited was initiated by this Tribunal vide order dated 04.10.2019 passed in IBA/316/2019 and the Applicant herein was appointed as the Interim Resolution Professional (IRP). 3. Thereafter, it is seen that the Applicant has caused a public announcement under Section 15 of the IBC, 2016 on 11.10.2019 calling for claims to be submitted by the Creditors of the Corporate Debtor. Subsequent to the above a Director, whose powers stood suspended, of the Corporate Debtor upon initiation of CIRP had filed an appeal before the Hon'ble NCLAT and it is seen that the said appeal is still pending adjudication as represented by the IRP. 4. Learned Resolution Professional has submitted that the Corporate Debtor is engaged in the activities of making steel building design as per the purchase order and manufacturing of steel structure, sale of steel materials etc. 5. It was submitted by the Learned Resolution Professional that upon perusal of the records of the Corporate Debtor, the Applicant found that there are certain receivables wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent has cautioned the Corporate Debtor for a number of times. Further it was submitted that even the Corporate Debtor was not able to complete the erection part of the work before 25.05.2019 and that the Respondent had engaged their staff to follow with the Corporate Debtor and the factory premises for completion of the work and it is also alleged that the Corporate Debtor had diverted all funds paid by the Respondent and demanded more money from the Respondent. 11. Thereafter, it was submitted that in spite of long delay and in order to complete the construction, the Respondent had agreed for extension of time limit and thereby conveyed the same by sending an e-mail dated 07.06.2019 and that the work should be completed on or before 08.07.2019 thereby extending the time line for further period of two months. 12. It was submitted that Respondent is purely relying upon the funds from the financiers to start the construction work and as such without even the work being completed by the Corporate Debtor, it was difficult for the Respondent to disburse the amount to the Corporate Debtor and further the financiers of the Respondent raised too many questions by stating that the loa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reated sham documents dated 14.08.2019, styled as a "Work Completion Report". 19. It was submitted that a perusal of the said work completion report shows that there was certain items pending to be completed and under the said circumstances it was submitted by Learned Counsel for Respondent that this Application is liable to be dismissed. 20. The Applicant/Corporate Debtor has filed a rejoinder and the Applicant has sought to refute the contentions being made in the counter and has also sought to deny the same as false. The Applicant has stated in the rejoinder that the delay on the part of the Corporate Debtor to supply the materials was attributable only to the Respondent since they have not kept the site ready for delivery of materials and as such it is the Respondent who was not cooperating with the Corporate Debtor and not vice versa. 21. It was submitted that there is no defective work being done by the Corporate Debtor and as on date there is no correspondence and e-mail communication from the Respondent regarding this issue. 22. It was also submitted that the Respondent has issued the work completion Certificate dated 14.10.2018 and after issuance of work completion cer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y customers and suppliers due to delay in project will be billed back to you. We need to have your final confirmation in next six working days if you would like to comply with terms of contract and interested to complete the project, failing which you will be liable for legal implications as per the terms of contract. Thank You. With Regards," 25. Subsequently, again an e-mail was sent by the Respondent to the Corporate Debtor on 24.08.2019 by stating the reason as to the delay on the part of the Corporate Debtor in completion of the project within the time stipulated thereunder which compelled the Respondent to cancel the contract. The said e-mail is extracted hereunder: From: Abhisek Jain/Kalimati Carbon (P) Ltd. Sent: Saturday, 24 August 2019, 19:37 To: Enquiry Cc: [email protected]; [email protected]; vikram dixit kannaiah; Suresh Carbon Subject: Re: Request for payment - reg Dear Sir, Please refer to emails dated Aug 44th, Aug 22, Aug 21st, Aug 19th and several calls made to your number for status of dispatch as per commitment to deliver roofing sheets by 20th August. None of our emails and calls were answered. We have sent you DD scanned copy on Jul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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