9911796707
TMI Blog2021 (11) TMI 908X X X X Extracts X X X X X X X X Extracts X X X X ..... shed that he has delivered services to the Corporate Debtor Company for which an amount of ₹ 5,99,250/- is due and a default has also occurred. Considering these facts and circumstances, the nature of the Debt is an Operational Debt as defined under section 5 (21) of the Definitions under The Code. There is a Default as defined under section 3 (12) of The Code on the part of the Debtor. The Operational Creditor has successfully demonstrated and proved the debt and default in this case and has also proved that there is absolutely no reason for the Corporate Debtor to hold on to the payment of the invoices. The Operational Creditor has also suggested the name of proposed Interim Resolution Professional along with his consent lett ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is due for the services of call centre, management consultant, support in human resource training and operations from the period 11.03.2016 to 06.10.2016. b. The Operational Creditor further states that as per the Agreement dated 24.02.2014, the Corporate Debtor engaged the Operational Creditor to provide certain services on the terms and conditions as contained in the agreement. c. The Operational Creditor further states that sent a Demand Notice under section 8 of the Code thereby demanding payment in respect of unpaid Operational Debt due from the Corporate Debtor. The Operational Creditor has annexed the courier receipt of the tracking report showing that the Notice was delivered to the Corporate Debtor. The Corporate Debtor did n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. f. The Operational Creditor has annexed the Agreement dated 24.02.2014 with the Petition. The Operational Creditor has also annexed copy of Bank Statement for the year 01.04.2014 to 31.03.2018. The Operational Creditor has also annexed Certificate under Section 9 (3) (c) of the Insolvency and Bankruptcy Code dated 17.05.2017 by HDFC Bank confirming that there is no payment of unpaid Operational Debt from the Corporate Debtor. g. The Operational Creditor has also submitted the ledger account of the Corporate Debtor in the books of the Operational Creditor for the year ended 01.04.2014 to 31.03.2017 which corroborates the amount claimed. 4. Submissions of the Corporate Debtor are as follows :- a. The Corporate Debtor has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 3 (12) of The Code on the part of the Debtor. 7. Further, we have also perused the notice sent under Section 8 (2) of the Code and it came to our notice that the Corporate Debtor has received the same but has not paid the amount of unpaid salary. Further, if the Debtor wanted to place on record evidence of Dispute then he could have raised the objection within 10 days as prescribed under section 8 (2) of The Code which had also lapsed now. Hence, admittedly there is no Dispute in respect of the outstanding Debt. 8. As a consequence, after the expiry of the period as prescribed and keeping admitted facts in mind that, the Operational Creditor had not received the outstanding Debt from the Debtor and that the formalities as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reditor shall deposit an amount of Rs. Two Lakhs towards the initial CIRP cost by way of a Demand Draft drawn in favour of the Interim Resolution Professional appointed herein, immediately upon communication of this Order. 14. That this Bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; any action to foreclose, recover enforce any security interest created by the corporate debtor in respect of its pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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