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TMI Blog2019 (7) TMI 1872X X X X Extracts X X X X X X X X Extracts X X X X ..... ween the parties as well as indemnity bonds furnished thereunder by the Petitioner to the respondent in relation to its performance as well as the correspondences exchanged between the parties, particularly the one dated 10.12.2012 sent by the respondent to the Petitioner making the petitioner solely responsible for the losses occasioned on account of storage and handling being the services expected to be performed by the Petitioner under the agreements with the corporate debtor and the due performance of which there seems to be a pre existing dispute falling within the confines of Section 5(6) of IBC, 2016. Taking into consideration the decision of Mobilox Innovations Private Limited Vs Kirusa Software Private Limited. [ 2017 (9) TMI 12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndling and transportation of foodgrains, fertilizers, cement, salt, sugar and other commodities. The Corporate Debtor had also not refunded the security deposit for both the agreements in relation to the period 01.09.09 to 30.11.11. and 01.12.11 to 30.11.13. c. n 07.09.2009 the Operational Creditor was required to submit a Security Deposit of ₹ 5,00,000/- (Rupees Five Lakhs Only) to the Corporate debtor. The Operational Creditor has paid ₹ 1,00,000/- towards the earnest money deposit (EMD) at time of the submission of the tender which was converted into security deposit. Furthermore, the Operational creditor had deposited ₹ 1,50,000/- at the time of execution of agreement. The rest of ₹ 2,50,000/- was deducted fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.12.2011. g. The outstanding debt fell due on 16.02.2016 which is the date of the receipt of the last payment from Corporate Debtor, and thereafter no payment has been received from Corporate Debtor. 3. On 01.02.2018 the Operational Creditor has served a demand notice dated 01.02.2018 on the Corporate debtor Demanding payment of Rs 51,65,270/-. The said demand notice was duly delivered to the corporate Debtor at its registered address. However, despite the due receipt of the said demand notice dated 01.02.2018, the Corporate Debtor has neither replied to the said demand notice dated 01 02.2018 nor paid the outstanding dues and hence this Petition. 4. Upon an opportunity being granted the corporate Debtor has filed a reply and it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fact that the services of the petitioner are in dispute and that he failed to perform his duty at Railside Warehousing Complexes (RWC) , Hatia, Ranchi, wherein the stock of boiled rice was placed by the FCI (Food Corporation of India) and there is quantity loss of boiled rice which amounts to ₹ 81,56,519/- (Rupees Eight One Lac Fifty-Six Thousand Five Hundred Nineteen Only). e. That after various discussions and mectings the liability of the Corporate debtor was assessed at ₹ 40,78,260/- (Rupees Forty Lac Seventy thousand and Two Hundred Sixty Only) by FCI (Food Corporation of India)). The operational creditor is entirely liable for loss or damage or deterioration or shortage of every stored goods during the agreement period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner is solely responsible for the losses suffered by CRWC on account of handling and storage of stocks at RWC, Hatia. It is also evident from the indemnity bond that the petitioner will be solely responsible for the safe custody and protection of the said goods materials at their risk till the same are duly. delivered/ dispatched to various customers or as may be directed by the CRWC from time to time or any time and shall indemnify CRWC against any loss, damage or deterioration suffered by CRWC or shortages whatsoever in respect of the goods from time to time under the said agreement while the same remain in custody of the petitioner. Further it is stated that any loss or damage or deterioration or shortage occur or refund becomes due ..... X X X X Extracts X X X X X X X X Extracts X X X X
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