9911796707
TMI Blog2022 (1) TMI 771X X X X Extracts X X X X X X X X Extracts X X X X ..... The observations of the Adjudicating Authority that last invoice dated 08.07.2017 which does not appear to be correct which is in altogether different format as compared to other 9 invoices. The mere fact that the invoice dated 08.07.2017 was sent in different format was not any factor on which the invoice could have been ignored. The 10 invoices have been referred to in the Demand Notice as well as in the Section 9 Application - When Operational Creditor was accepting the payment of amount in Cash and there was nothing to suggest to the contrary there was no occasion for Adjudicating Authority to disbelieve the said payments. The last payment having been made on 26.11.2018 and the Application filed on 12.12.2019 was well within time and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of ₹ 23,96,742/- which also included the interest and the in the notice, the last date of default has been mentioned as 26.11.2018. Copy of the Invoices and Ledger Account were also annexed with the Notice No Reply to the Notice was given by the Corporate Debtor. The Appellant filed CP(IB)39/2020 in which notices were issued by the Adjudicating Authority but no one appeared on behalf of Corporate Debtor hence the notices were also got published in the Newspaper but still Corporate Debtor did not appear, Ld. Adjudicating Authority proceeded ex-parte and by the Impugned Order rejected the Application on the ground that it is barred by limitation. 3. Ld. Adjudicating Authority took the view that the last invoice is dated 04.11.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Twelve Lakh Thirty Four Thousand Eight Hundred Fifteen Only) along with the interest @24% p.a. which sums to the value of ₹ 11,75,065/- (Rupees Eleven Lakh Seventy Five Thousand Sixty Five Only) as determined via 10 invoices raised against the supplied made to the corporate debtor company is due and payable by the corporate debtor. 1. The Applicant was thus constrained to issue Demand Notice dated 05.09.2019 in prescribe form 3 and form 4 under the provisions of the Insolvency and Bankruptcy 75,00/-(Rupees Seventy Five Hundred) on 26.11.2018 which has been reflected in the working computation and the ledger of the corporate debtor. Last Date of Default: 26.11.2018 The Corporate Debtor have not made payments from 26. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the payment received by the Appellant, the Adjudicating Authority has observed that since there is no documentary evidence duly acknowledged by the Corporate debtor attached hence payment cannot be also believed. Operational Creditor has acknowledged the payments which have been noticed by the Adjudicating Authority in Paragraph 8 of the Impugned Order, the amount of ₹ 1,36,500/- was received through Bank and other amounts were received in cash. When Operational Creditor was accepting the payment of amount in Cash and there was nothing to suggest to the contrary there was no occasion for Adjudicating Authority to disbelieve the said payments. 7. We are further of the view that even if there were any more papers or documents requir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e debtor; (d) notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility; or (e) any disciplinary proceeding is pending4 against any proposed resolution professional: Provided that Adjudicating Authority, shall before rejecting an application under sub-clause (a) of clause (ii) give a notice to the applicant to rectify the defect in his application within seven days of the date of receipt of such notice from the adjudicating Authority. 8. When the Corporate Debtor has chosen not to oppose the Application, we fail to see that on what basis the Adjudicating Authority has returned the finding that Cash Payment made to the Appellant is not acceptable and further ..... X X X X Extracts X X X X X X X X Extracts X X X X
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