9911796707
TMI Blog2022 (1) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... aused to the Corporate Debtor. However, the Corporate Debtor raised dispute when the Demand Notice was sent by the Operational Creditor. The Corporate Debtor accepted and admitted the dues for an amount of ₹ 1,94,208/- (Rupees one lakh ninety four thousand two hundred and eight). Hence, the claim of the Operational Creditor is accepted admitted by the Corporate Debtor. The default amount meets the threshold limit as per Section 4 of the IB Code, 2016 and is well within the limitation for filing the present application. It is clear that Corporate Debtor has defaulted in the payment of its debts. On the basis of the facts the application is otherwise defect free on record - Application admitted - moratorium declared. - CP ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o pay the outstanding amount, against which the Operational Creditor has time and again reminded the Corporate Debtor to clear the outstanding dues. It is further submitted by the Operational Creditor that the Operational Creditor had sent a letter to the Corporate Debtor on 30.11.2017 claiming ₹ 6,23,134.30/- to which the Corporate Debtor agreed to pay the outstanding dues by 06.12.2017. However, the Corporate Debtor paid only ₹ 2,00,000/- out of the total outstanding amount and therefore, the Operational Creditor sent another notice dated 15.12.2017 to the Corporate Debtor claiming the balance outstanding amount for the invoices till October, 2017 of ₹ 4,22,819.80/-. 4. It is submitted by the Operational Creditor that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demand notice. 7. It is submitted by the Operational Creditor that the Corporate Debtor in its reply dated 21.08.2018, to the Demand Notice, which is not as per Section 8(2) of the IBC, 2016, claimed from the Operational Creditor ₹ 5,00,00,000/- for the losses incurred by the Corporate Debtor due to mis-deliveries, highly delayed deliveries, return to owners from whom the courier was collected, etc, which is based on spurious defence as per the averments of the Operatioanl Creditor. 8. It is submitted by the Corporate Debtor that the Operational Creditor sent anonymous letters, mails, messages to the various vendors and parties of the Corporate Debtor claiming that the Corporate Debtor has gone bankrupt etc and to stop business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erused the material on record, on this basis it appears that: A. The total invoice amount claimed by the Operational Creditor was ₹ 6,23,134.30/- against which the Corporate Debtor paid ₹ 2,00,000/- and out of the balance amount of ₹ 4,23,134/-, the Corporate Debtor through email dated 03.01.2018 admitted to pay ₹ 2,94,208/- after all the deductions for lost cases, damaged cases, wrong deliveries and delayed delivery and further paid ₹ 1,00,000/- and through email dated 17.01.2018 assured to pay the balance undisputed amount of ₹ 1,94,208/-. B. The Demand Notice under Section 8 of the IBC, 2016 was sent by the Operational Creditor on 25.07.2018 to which the Corporate Debtor replied on 21.08.2018, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor any of its assets or any legal right or beneficial interest therein; c. any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; d. the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. II. The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process or until this Adjudicating Authority approves the Resolution Plan under subsection (1) of the Section 31 or passes an order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Corporate Debtor Company, if continuing, shall not be terminated or suspended or interrupted during moratorium period. VII. The IRP shall be under duty to protect and preserve the value of the property of the 'Corporate Debtor Company' and manage the operations of the Corporate Debtor Company as a going concern as a part of obligation imposed by Section 20 of the Insolvency Bankruptcy Code, 2016. The Operational Creditor is directed to pay an advance of ₹ 25000/- (Rupees Twenty Five Thousand Only) to the IRP within two weeks from the date of receipt of this order for the purpose of smooth conduct of Corporate Insolvency Resolution Process (CIRP) and IRP to file proof of receipt of such amount to this Adjudicatin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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