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TMI Blog2021 (7) TMI 500X X X X Extracts X X X X X X X X Extracts X X X X ..... s rendered by the applicant has been claimed or proved by the respondent. In the present application all the aforesaid requirements have been satisfied. It is seen that the application preferred by applicant operational creditor is complete in all respect. The material on record clearly goes to show that the respondent committed default in payment of the claimed operational debt even after demand made by the applicant operational creditor. The respondent failed to show that the claim of applicant is disputed. Once, the application is complete and in the absence of any dispute and with the subsistence of default, the application is liable to be admitted. Application admitted - moratorium declared. - Company Petition No. (IB)-176(ND)/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itted that in the year 2014 the applicant was appointed as a statutory auditor of the Corporate Debtor and accordingly performed his duties and raised bills from 30.08.2014 to 26.03.2019 totaling to ₹ 5,59,250/- payable from 01.03.2018. It is stated that ₹ 8,93,530/- inclusive interest is due and payable by respondent, which the company has failed to pay. 4. The operational creditor on 27.07.2019 sent a demand Notice to the Corporate Debtor to pay outstanding debt. The Corporate Debtor has replied to the demand notice and objected the claim of applicant. 5. Respondent company has filed its reply to the petition mainly with the contention that the claim of applicant does not fall within the ambit of operational debt and thu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... person who has claim in respect of provision of goods (supplied) to the Corporate Debtor. ii. Persons who have provided service to the Corporate Debtor, including those who are in employment. iii. Central Govt., State Govt. and local authorities, who are entitled to claim debt in respect of dues arising under any law for time being in force. 10. It is thus seen that the unpaid petitioner, who rendered services to the Corporate Debtor, comes within the purview of 'Operational creditor'. 11. The procedure in relation to the Initiation of Corporate Insolvency Resolution Process by the Operational Creditor is delineated under Section 9 of the Code. The present application filed by operational creditor, accordingly, ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Code has been filed in requisite Form-5, wherein it was specifically mentioned that services were rendered which has not been denied by the Corporate Debtor. The application under Section 9 is thus complete and the required particulars have been furnished along with details of subsistence of default. 16. It is reiterated that in the present case the default committed by the Corporate Debtor is not denied. The material on record clearly goes to show that the respondent committed default in payment of the claimed operational debt even after demand made by the applicant operational creditor. 17. Hon'ble Supreme Court in the case of Mobilox Innovations Private Limited Vs. Kims a Software Private Limited, reported in AIR 2017 S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as an IRP. Accordingly, we appoint Mr. Parag Singhal Registration No. IBBI/IPA-001/IP-P02127/2020-2021/13322 contact no. 9717494425, as IRP of Corporate Debtor. He shall take such other and further steps as are required under the statute, more specifically in terms of Section 15, 17 and 18 of the Code and file his report within 30 days. 21. In pursuance of Section 13(2) of the Code, we direct that public announcement shall be made by the IRP immediately (within 3 days) with regard to admission of this application under Section 7 of the Code. 22. We also declare a moratorium in terms of Section 14 of the Code. The necessary consequences of imposing the moratorium flow from the provisions of Section 14(1)(a), (b), (c) (d) of the Code. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contemplated, inter-alia, under Sections 17, 18 and 21 of the Code and conduct proceedings with utmost dedication, honesty and strictly in accordance with the provisions of the Code, Rules and Regulations and shall file reports before the Adjudicating Authority. It is further made clear that all the personnel connected with the Corporate Debtor, its promoters or any other persons associated with the Management of the Corporate Debtor are under legal obligation as per Section 19 of the Code to extend every assistance and cooperation to the IRP as may be required by him in managing the day-to-day affairs of the Corporate Debtor. The IRP shall be under duty to protect and preserve the value of the property of the Corporate Debtor as a part of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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