9911796707
TMI Blog2018 (12) TMI 1946X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the date the copy of this Order is received, and call for submissions of claim by the creditors in the manner as prescribed. The scheme is approved - application allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the light fittings as per the delivery schedule to be intimated by the Operational Creditor in relation to the project as mentioned above. However, the contract that was signed between the Operational Creditor and the CMRL was cancelled and the amount of ₹ 50 Lakhs was debited to the account of the Corporate Debtor from the account of the CMRL. Since the contract was cancelled and CMRL insisted to return the said amount, the Operational Creditor paid the money to CMRL and intimated the same to the Corporate Debtor. 5. Accordingly, the Operational Creditor indemnified CMRL by paying ₹ 50 Lakhs, and has requested the Corporate Debtor to make payment of ₹ 50 Lakhs to the Operational Creditor, to which the Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions having registered office at Chennai. The document placed on record clearly established that the Firm viz., M/s. Hitro Energy Solutions has been converted into the M/s. Hitro Energy Solutions Private Limited got incorporated under the Companies Act, 2013. 7. The Operational Creditor has sent Form-3 Demand Notice dated 18.07.2017 under Section 8 of I&B Code, 2016 wherein the amount of debt claimed is being mentioned. The copy of notice is placed at pages 17 to 22 of the typed set filed with the Application, which has been dispatched and delivered on 25.07.2017. The postal receipts acknowledgment thereof is placed at page 23 of the typed set filed with the Application to which the Corporate Debtor has not given any reply as per the submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor. However, it has been admitted that the Cheque for an amount of ₹ 50 Lakhs has been received on 07.11.2013 by the Proprietorship Firm as a Special Advanced on behalf of the Corporate Debtor. In the subsequent paragraphs certain allegations have been levelled by the Proprietorship Firm against the Operational Creditor for not informing about the cancellation of the contract with CMRL stating that CCCL (Operational Creditor) cheated by way of fraud by committing criminal breach of trust. 10. The Counsel for the Operational Creditor has referred to the communication dated 23.07.2016 wherein the Operational Creditor has written to the Proprietorship Firm stating therein that CMRL has terminated the contract with the Operational ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as been taken over or converted into corporate entity. 13. It has been submitted by the Counsel for the Corporate Debtor that in case the CMRL could have given a certificate that they would not claim ₹ 50 Lakhs from M/s. Hitro Energy Solutions then, the amount could have been paid by the Corporate Debtor to the Operational Creditor, to which the Counsel for the Operational Creditor has submitted that his client has always been ready and willing to give indemnity bond against any claim made by the CMRL, but the Counsel for Corporate Debtor did not give any response with regard to the security offered. 14. The Operational Creditor has fulfilled all the requirements of law for admission of the Application. This IRP is also directed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
