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TMI Blog2020 (9) TMI 1210X X X X Extracts X X X X X X X X Extracts X X X X ..... Crale Foodlink Pvt. Ltd (hereinafter called "Corporate Debtor") alleging that the Corporate Debtor committed default in making payment to the extent of Rs. 35,52,022/- on the delay in making payment by invoking the provisions of Sections 8 & 9 of Insolvency & Bankruptcy Code (hereinafter called "Code") read with Rule 6 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. BRIEF FACTS OF THE CASE: Contentions raised by the Petitioner: 2. The Petitioner submits that he has entered into a Business Conducting Agreement dated 29.04.2010 with the Corporate Debtor for running a Restaurant, Bar and Lounge Business on the structure at 9, St. John Baptist Road, Bandra (W), Mumbai 400 050. The said Agreement expired on 30 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 6 of the Specific Relief Act, 1963, claiming possession of the said premises in which the business of Restaurant, Bar and Lounge was conducted. 6. The Petitioner thereafter, issued a Form 3 Notice, dated 19.02.2018 calling upon the Corporate Debtor to settle down the Claims. A reply to the said notice was issued by two of the Directors of the Corporate Debtor namely Mrs Leonys Pereira & Mr. Craig Pereira denying the claim raised by the Petitioner. Contentions raised by Mr. Sanjay Vazirani & Mrs. Jyoti Vazirani (Director 1 & 2 Of Corporate Debtor): 7. A reply was filed by Mr. Sanjay Vazirani and Mrs. Jyoti Vazirani (hereinafter referred to as "The Vaziranis", who own 50% share capital of the company. The Vazirani's point out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be acted upon, since, the alleged transactions were only between the Parreira's and the petitioner. 11. It is contented that an unregistered agreement dated 15.08.2016 was entered between the Pereira family and the Curzai family. As per the said agreement the Pereira family was to run a restaurant and the rent was to be paid in five parts, 4 of which was to go to the Curzai family and one part that comes to 20% of which amount of rent was to go to the Petitioner. Another agreement with similar terms was entered and registered between the aforesaid parties on 16.10.2006. 12. The Pereiras contend that the Vaziranis and the petitioner are hand-inglove, and their only intention is to ensure that CIRP is the initiated against the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion in the above Company Petition is: Whether the amounts claimed by the petitioner falls within the definition of "Operational Debt"? and whether the applicant can be termed as an Operational Creditor. In order to decide the above issue, it is important to read the definitions of "Operational Debt" and "Operational Creditor" that reads as follow: Section 5(20):"Operational Creditor" means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred". Section 5(21): "Operational debt" means a claim in respect of the provision of goods or services including employment or a debt in respect of the repayment of dues arising under any law for the time being in force and pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered as Operational Debt. Therefore, we have no hesitation in holding that the above amounts claimed by the Operational Creditor does not fall within the definition of Operational Debt and the petitioner cannot be termed as "Operational Creditor". The Operational Creditor has claimed an amount of Rs. 14,62,205/- towards Municipal Taxes covering the following period against the total claim of Rs. 35,52,022/-: Property Tax Payable by Crale Foodlink Pvt. Ltd. From 2010 to 2017 Period Old Rate Revised 50% of increased taxes 01.06.2010 to 30.09.2010 5178 122297 58,560 01.10.2010 to 31.03.2011 10357 245095 1,17,369 01.04.2011 to 31.03.2012 20714 415170 1,97,228 01.04.2012 to 31.03.2013 20714 361282 1,70,284 01.04.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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