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TMI Blog2020 (12) TMI 1339X X X X Extracts X X X X X X X X Extracts X X X X ..... that the dispute raised in this case was that there was no dealing between the Corporate Debtor and the Operational Creditor, that there was no agreement. It was however, mentioned in the reply that it there was a dispute with the branch office and that they wanted to verify the transaction. The Bank Statement of the Operational Creditor was also seen and it was found that various payments of more than Rs.3 Crores were stated to have been made from the outstanding dues and for a small amount of Rs. 21,07,916/- , the Operational Creditor was required to move to the Adjudicating Authority. The application filed by the Operational Creditor under Section 9 of the Insolvency Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the Corporate Debtor is an authorized Dealer of Exide India Limited. In the absence of supporting evidence to prove that the Corporate Debtor has placed orders for purchasing the goods, referred to in the invoices, annexed with the demand notice, tit is impossible to hold that the corporate debtor is liable for the amount as demanded by the operational creditor. Delivery of goods for the debt allegedly due is not established in the instant case. It has come out in evidence that the internal management dispute between the director who was managing the affairs of the branch at Varanasi is known to the operational creditor. Therefore, the contention on the side of the corporate debtor that operational Creditor has devised a plan in collus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and revenue collection etc. as to the affairs of the corporate debtor company. (Notice of ROC dated 31.1.2018.) In the said circumstances, it cannot be held that there is delivery of goods to the corporate debtor as alleged. Non production of proof of delivery of goods for which claim is made in this application and invoices, is fatal in the nature of this case. No explanation is forthcoming from the side of the Operational Creditor as to non-production of the invoices proving the delivery of goods to the corporate debtor to its registered address. The Operational Creditor has got the burden to prove that the amount claimed is due to the Operational Creditor upon delivery of goods as alleged in the Application." 5. The Hon'ble Appellate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be admitted unless the Corporate Debtor shows Pre-existing dispute. The Hon'ble Appellate Tribunal further held that the dispute raised in this case was that there was no dealing between the Corporate Debtor and the Operational Creditor, that there was no agreement. It was however, mentioned in the reply that it there was a dispute with the branch office and that they wanted to verify the transaction. The Bank Statement of the Operational Creditor was also seen and it was found that various payments of more than Rs.3 Crores were stated to have been made from the outstanding dues and for a small amount of Rs. 21,07,916/- , the Operational Creditor was required to move to the Adjudicating Authority. The Appellate Authority further directed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment in accordance with Sections 13 and 15 of the I & B Code, 2016. iii) Moratorium is declared for the purposes referred to in Section 14 of the Insolvency & Bankruptcy Code, 2016. The I.R.P. shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Section 15. The public announcement referred to in clause (b) of sub-section (1) of Section 15 of Insolvency & Bankruptcy Code, 2016 shall be made immediately. iv) Moratorium under Section 14 of the Insolvency & Bankruptcy Code, 2016 prohibits the following: a) The institution of suits or continuation of pending suits or proceedings against the Corporate Debtor including execution of any judgment, decree or o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , as the case may be. ix) Mr. Subodh Kumar Agrawal, [Reg. No. IBBI /IPA-001/IP-P00087/2017- 18/10183] registered with Insolvency and Bankruptcy Board of India, having Registration No. , E-mail ID: [email protected]., Mobile No. 9830022848 is hereby appointed as Interim Resolution Professional for ascertaining the particulars of creditors and convening a Committee of Creditors for evolving a resolution plan subject to production of written consent within one week from the date of receipt of this order. x) The Interim Resolution Professional should convene a meeting of the Committee of Creditors and submit the resolution passed by the Committee of Creditors and shall identify the prospective Resolution Applicant within 105 days from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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