9911796707
TMI Blog2022 (1) TMI 401X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the reopening of the CP(IB) No. 463/9/HDB/2018 before the NCLT or filing of the fresh CP as the case may be , the Corporate Debtor is precluded under law from contending that as under the order in IA 1162/2019 this Tribunal did not expressly grant leave to the Operational Creditor, the present application is not maintainable. It may be stated that once the MOU is made a part of the Order it does not matter whether leave, if any, is expressly granted or not. Since the Operational Creditor has satisfied this Tribunal as to the existence of default and has been ensured that the present application is complete and no disciplinary proceedings are pending against the Proposed Interim Resolution Professional (IRP), the application is liable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... off shoot of breach of the Memorandum of Understanding (for short TVIOU') dated 16.12.2019 admittedly entered into between the Operational Creditor and the Corporate Debtor herein whereby the CIRP process triggered by the very same Operational Creditor against the same Corporate Debtor, vide CP (IB) No. 463/9/HDB/2018 already admitted, has been allowed to be withdrawn, vide order of this Tribunal dated 20.12.2019. 3. Here, it is important to refer to Clause 'e' of the undisputed MOU dated 16.12.2019 that was entered between the parties which is as follows: Clause 'e' of the MOU supra states as follows: That, in the event of any default of any instalment or dishonour of the cheques the Party of First Part is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not maintainable in the absence of grant of leave by this Tribunal while disposing of IA 1162/2019? At the outset, it may be stated that the findings of this Tribunal regarding existence of the debt between the parties herein and default on the part of the Corporate Debtor have unquestionably attained finality. That apart, the default in complying the terms of MOU dated 16.12.2019 by the Corporate Debtor also is not in dispute. Therefore, the only question that remains to be answered is whether the present claim is not maintainable as the Order of this Tribunal in IA 1162/2019 dated 20.12.2019 does not expressly provide for any leave to the Operational Creditor to file fresh petition or petition to reopen CIRP initiated under CP(IB) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be , the Corporate Debtor is precluded under law from contending that as under the order in IA 1162/2019 this Tribunal did not expressly grant leave to the Operational Creditor, the present application is not maintainable. It may be stated that once the MOU is made a part of the Order it does not matter whether leave, if any, is expressly granted or not. 10. In so far as the other plea of the Corporate Debtor that the Operational Creditor has inflated the claim so as to contract the pecuniary jurisdiction of this Tribunal is concerned, it may be stated that since the existence of the debt and default on the part of the Corporate Debtor are already been adjudicated vide CP(IB) 463/9/HDB/2018 and the said finding has attained finality it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , clearances or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of the license, permit, registration, quota, concessions, clearances or a similar grant or right during the moratorium period. iii. That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. iv. That the provisions of sub-section (1) of Section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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