2019 (11) TMI 1723

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..... n unpaid amount of 4,90,01,183/- outstanding payable to the Petitioner which has not been repaid, and the Corporate Debtor has not denied the issuance of the confirmation of balance. If there was no liability, why was the confirmation of balance dated 12.02.2019 issued by the Corporate Debtor. Hence debt and default are proved. Application admitted - moratorium declared.
Hon'ble Smt. Suchitra Kanuparthi, Member and Hon'ble Shri V. Nallasenapathy, Member , JJ. For the Petitioner: Adv. Sunila Chavan i/b P. M. Bhansali For the Corporate Debtor: Adv. Ashok Kumar Dubey, ORDER Per: Suchitra Kanuparthi, Member (Judicial) 1. Raksha Bullion (hereinafter called 'Petitioner') has sought the Corporate Insolvency Resolution Process against Royal .....

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..... irectorship and hence requested to eliminate his name from future correspondence and also enclosed form DR-11 quoting his resignation. 4. The Petitioner filed affidavit under Section 9(3)(b) stating that no notice of dispute is given by the Corporate Debtor. 5. The Corporate Debtor filed his objections and denied the contentions of the Petitioner. The Corporate Debtor further claimed that Petitioner has no cogent proof of default placed on record and that Petition under Section 9 is not maintainable. The Corporate Debtor claimed that the invoices attached by the Petitioner are in fact invoices of the Corporate Debtor and that no sales affected by the Petitioner, in fact the Corporate Debtor has supplied materials to the Petitioner. Hence .....

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..... on of any judgement, decree or other in any court of law; transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; 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 Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. (b) that the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during mor .....

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