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TMI Blog2022 (5) TMI 872X X X X Extracts X X X X X X X X Extracts X X X X ..... . Mayer can file this application for and on behalf of the Operational Creditor? - HELD THAT:- The dispute in between directors/shareholders of the Operational Creditor is no defense available to the Corporate Debtor to request this authority to dismiss this application. Section 11 of the LB. Code, 2016 does not bar director of the Operational Creditor from initiating the CIRP against the Corporate Debtor under Section 9 of the LB. Code. In view of material and evidence on record, it is held that Mr. Andrew Mayer, being an authorized signatory of the Operational Creditor has rightly filed this application. The Corporate Debtor in its e-mail dated 23.01.2020 has clearly stated that there was no dispute except agenda of paying money for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 379/-. 2. The Operational Creditor states that it has sold and supplied the Corporate Debtor the raw material for all types of finished temperature sensitive materials and machineries. It has raised various invoices against the Corporate Debtor for the period in between 06.09.2018 to 21.07.2020. According to the Operational Creditor, the Corporate Debtor did not pay the outstanding amount despite repeated demands. It has served on the Corporate Debtor a demand notice dated 24.07.2020 under Section 8 of the Insolvency and Bankruptcy Code, 2016. 3. The Corporate Debtor received the notice on 24.07.2020 and replied the same vide letter dated 04.08.2020. The Operational Creditor stated that the Corporate Debtor raised false defense of som ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perused the pleadings, evidence and material available on record. 7. We heard the Learned Counsel appearing for the parties. In view of above, only point arises for our consideration is as follows with our findings and thereon and reasons thereof: (i) Whether there is any pre-existing dispute in between the Operational Creditor and the Corporate Debtor pending about the quality of goods supplied - No. REASONS 8. There is no dispute to the fact that the Operational Creditor has sold and supplied certain types of goods to the Corporate Debtor. It is also not in dispute that the Corporate Debtor is liable to pay certain sum of money more than (in Indian Rupees) one Crore (threshold limit prescribed under Section 4 of the LB. Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at page no. 20. It discloses that the said Mr. Mayer is authorized signatory of the Operational Creditor. As against this, the Corporate Debtor came out with a defense that said Mr. Mayer is not authorized to file this application because of dispute in between the shareholders. However, no document is produced on record to show that Mr. Mayer's authority to sign the document and appearing on behalf of the Operational Creditor has been withdrawn by the Operational Creditor. 13. We have already made it clear that dispute in between directors/shareholders of the Operational Creditor is no defense available to the Corporate Debtor to request this authority to dismiss this application. Section 11 of the LB. Code, 2016 does not bar direct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 4 of the LB. Code) is due and payable by the Corporate Debtor to the Operational Creditor and the Corporate Debtor, in-spite of receipt of demand notice did not pay the amount and has committed the default. There is no pre-existing dispute about the quality of goods or materials supplied. This application is free from defect. Hence, we allow the application admitting the Corporate Debtor in CIRP. 16. The Operational Creditor did not suggest the name of any Resolution Professional for the appointment of Interim Resolution Professional and left the matter at our discretion. 17. The present application is defect-free and complies with all the relevant provisions of the IBC 2016. The Operational Creditor has not proposed the name ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his order till the completion of the Corporate Insolvency Resolution Process or until this Adjudicating Authority approves the Resolution Plan under Section 31(1) or passes an order for liquidation of Corporate Debtor Company under Section 33 of the Insolvency Bankruptcy Code, 2016, as the case may be. 3. The Operational Creditor has not proposed the name of IRP in the application, therefore we appoint Mr. Shivkumar Madanlal Baser having registration no. IBBI/IPA-001/IP-P-01263/2018-2019/12064 and registered mail ID: [email protected], as an IRP. 4. The IRP shall perform all functions as contemplated, inter-alia, by Sections 17, 18, 20 and 21 of the Code. It is further made clear that all personnel connected with the Corporat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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