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TMI Blog2019 (9) TMI 1614X X X X Extracts X X X X X X X X Extracts X X X X ..... or brevity 'the Rules') by M/S Harish Khurana & Associates (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency Resolution Process against One World Realtech Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a company with PAN number AIIPK3010C and having its registered office at G-1/208-209, 2 Floor, Sector -16 Rohini, Delhi-110089. The Corporate Debtor is a private company registered under the Companies Act, 1956, incorporated on 24.02.2012 bearing CIN U70109DL2012PTC231990 as per master data and having its registered office at 107, First Floor, Khasra No. 369-370, Centrum Mall, MG Road, Sultanpur, New Delhi-110030. 3. The Applicant submits that professional services were rendered to the corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t which has been duly delivered to the corporate debtor as per the tracking report. 7. The Corporate Debtor has replied to the application denying the allegations against the outstanding amount and invoices raised by the applicant. The corporate debtor has asserted that there was no contract/engagement between applicant and corporate debtor nor the amount claimed by the applicant was ever agreed/fixed by corporate debtor. The corporate debtor never asked or communicated its statutory auditor to avail any services from the applicant and further has never received any invoices which are allegedly raised by applicant. Hence the corporate debtor asserts that there is no privity of contract between the applicant and the corporate debtor. 8. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and admitted that corporate debtor had not availed any services from the applicant and he in good faith to help the applicant, had allotted some work to the applicant and undertook to resolve the issue. The affidavit of the statutory auditor has also been placed on record. The admission of said facts is set out below verbatim from said application for ready reference: "That I have been assigned by the Respondent Company to filing of annual record with registrar of Companies, XBRL form of annual accounts, filing application with RoC seeking condonation of delay, if any, in filing annual returns and getting the amount of stamp duty for allotment of equity shares adjudicated. That in order to execute the above said assignment I had en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aised dispute of locus of the applicant. 12. In view of the above discussion the present application is dismissed. It is very essential to understand that the intent of the legislature is to be kept in mind that this CIRP can be triggered only where the prima facie debt is payable and default has occurred. In the application under section 9 the 'existence of dispute' has to be developed in and only on satisfaction that corporate debtor is unbale to pay debt, then the CIRP can be triggered and not that simply any amount being crystalized as payable. Therefore, in the present case there is no recovery proceeding payable and cannot be used as debt and brought under umbrella of this Code. Hence the application is rejected and dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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