9911796707
TMI Blog2021 (12) TMI 1153X X X X Extracts X X X X X X X X Extracts X X X X ..... e. It is not in dispute that as per invoice dated 10.08.2018 (page No. 40-45), the goods were supplied. According to the Corporate Debtor, it got burst in April, 2019 i.e. almost seven months after its installation at the premises of the Corporate Debtor. There is every possibility that the Oven got burst due to want of proper maintenance by the Corporate Debtor. It is not in dispute that the Corporate Debtor did not reply demand notice under Section 8 of IBC. In earlier notice reply dated 22.05.2019, the Corporate Debtor admitted the debt. Not only that, as per the Corporate Debtor's own statement in reply, it has made payment of ₹ 9,91,200/- and it is ready to pay balance sum of ₹ 3,28,800/-. In such situation the Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound that goods were defective. 3. According to the Operational Creditor, vide legal notice dated 06.05.2019, the Operational Creditor called upon the Corporate Debtor to pay the balance outstanding together with interest thereon. The Corporate Debtor replied to notice vide letter dated 22.05.2019 (at Exhibit-X). The Corporate Debtor admitted the part debt disputing actual amount claimed by the Operational Creditor on the ground that the furnace supplied by the Operational Creditor was of a poor workmanship and sub-standard. 4. Since the Corporate Debtor did not pay the amount on 26.07.2019, the Operational Creditor served on the Corporate Debtor demand notice (at Annexure XI) under Section 8 of IBC. The Corporate Debtor did not reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor settles the accounts. According to him, this petition is not maintainable as there is a preexisting dispute relating to the goods supplied. 8. We have noted that in affidavit in reply, the Corporate Debtor categorically stated that the actual amount payable by the Respondent will be ₹ 3,28,800/-. According to the Corporate Debtor, the Oven supplied by the Operational Creditor was defective. It had burst in April, 2019. The fact that the goods were of sub-standard quality was already informed to the Operational Creditor. However, it is difficult for us to accept this defence. It is not in dispute that as per invoice dated 10.08.2018 (page No. 40-45), the goods were supplied. According to the Corporate Debtor, it got burst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against whom no disciplinary proceeding is pending. Hence, we allow this application and admit the Corporate Debtor in CIRP by following order: ORDER 1) The Corporate Debtor, viz., M/s. Superchem Coatings Private Limited is admitted in Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. 2) The moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is declared for prohibiting all of the following in terms of Section 14(1) of the Code. a) 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; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rsonnel connected with Corporate Debtor, its Promoter or any other person associated with management of the Corporate Debtor are under legal obligation under Section 19 of the Code extend every assistance and co-operation to the Interim Resolution Professional. Where any personnel of the Corporate Debtor, its Promoter or any other person required to assist or co-operate with IRP, do not assist or Co-operate, IRP is at liberty to make appropriate application to this Adjudicating Authority with a prayer for passing an appropriate order. 6) This Adjudicating Authority directs the IRP to make public announcement of initiation of Corporate Insolvency Resolution Process (CIRP) and call for submission of claims under Section 15 as required by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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