9911796707
TMI Blog2021 (10) TMI 209X X X X Extracts X X X X X X X X Extracts X X X X ..... e 1998 having its business office at 209, Masjid Moth, 316, third Floor, south extension Plaza-II, N.S.D.E.-II, New Delhi - 110049. The applicant is engaged in the business of trading of valves and other industrial items. 3. The Corporate Debtor is a Private company limited by shares incorporated on 18.07.2012, under the provisions of Companies Act, 1956 bearing CIN No. U74140DL2012PTC239017 and having its registered office at B-87/4, (F-1), Dilshad Colony, New Delhi-110095. The corporate debtor is engaged in the business of procurement and construction of engineering works. 4. The applicant states that the corporate debtor placed purchase orders for supply of bronze gate valve zoloto, between the period of July, 2014 to January 2016 and accordingly applicant supplied material to the corporate debtor. Thereafter the applicant raised invoices from Aug, 2014 to Jan 2016 and as per books of accounts the outstanding amount was Rs. 8,99,551/- till 12.05.2016. 5. The applicant submits that in discharge of liability, the corporate debtor issued a cheque dated 18.02.2016, bearing No. 133944, for Rs. 1,40,997/- drawn on central bank of India, Malviya Nagar branch, New Delhi in favour of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... One Lakh only) shall be paid on or before 20.07.2017 against proper receipt or RTGS. 11. Amount of Rs. 1,00,000/- (Rupees One Lakh only) shall be paid on or before 20.08.2017 against proper receipt or RTGS. 12. Amount of Rs. 49,565/- (Rupees Forty Nine Thousand five hundred sixty five only) shall be paid on or before 20.09.2017 against proper receipt. 13. It is also agreed between the parties that on receiving/realization of the entire settled amount, nothing shall remain in respect to the transactions of the parties including in respect of the present complaint case and the first party shall withdraw the present complaint after completion of all the installments as stated above by making statement before the referral court. This settlement has been voluntary arrived at between the parties with their own free will and without any force, pressure or coercion and both the parties are bound by the terms and conditions mentioned herein above." The copy of order date 16.09.2016 passed by the mediation centre is annexed. 7. The applicant states that the corporate debtor made a payment of Rs. 50,000 on 23.11.2016, as the first installment of settlement before the mediation centr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present petition." 10. Thereafter the corporate debtor did not pay any amount and debt of balance amount remained unpaid the applicant sent a demand notice dated 21.08.2019, posted on 02.09.2019 under Section 8 of IBC code, 2016 for payment of outstanding dues of Rs. 8,50,000/-. The notice was sent to the corporate debtor on the registered address as per the master data which returned on 03.09.2019 with the remark "no such person". The notice was also served via email on the mail id used for regular communication between the parties. The copies of proof of delivery and tracking report of the email have been annexed. 11. The corporate debtor did not reply to the said demand notice. Consequently, the applicant filed the present application under section 9 of IBC, 2016 and served the copy of this application via speed post, which was returned with the remark "no such person in the address", the applicant also served the corporate debtor via email on the registered email id as per master data, the applicant also served the corporate debtor by hand. The copy of acknowledgment of delivery via email and by hand is annexed along with the service affidavit. As per Form V, the total de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation." Moreover, the corporate debtor argues that in view of the breach of settlement agreement dated 16.09.2016 submitted before the mediation centre, wherein it was agreed to not to file any proceedings or avail legal remedy against corporate debtor this application is not maintainable. Admittedly settlement agreement was not complied by the corporate debtor, by not adhering to the payment terms, the admitted debt as per settlement agreement by the corporate debtor remained unpaid. Hence in view of the cause of action arising with fresh date of default the applicant is entitled to claim the amount unpaid as per this application. Therefore, in the given facts and circumstances, the applicant has established that the default has occurred and is payable by the corporate debtor which was admitted by the corporate debtor. In the light of above facts and records, the present application is admitted. 19. The applicant has not proposed the name of IRP, accordingly this bench appoints, Mr. Kamal Ahuja as the Interim Resolution Professional having registration number IBBI/IPA-002/IP-N01025/2020-21/13389, having email [email protected], who is be and hereby appointed as IRP sub ..... X X X X Extracts X X X X X X X X Extracts X X X X
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