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TMI Blog2022 (10) TMI 925X X X X Extracts X X X X X X X X Extracts X X X X ..... In so far as the prayer for costs claimed by the Operational Creditor on the plea that the operational creditor was put to hardship and inconvenience by the Corporate Debtor besides the travelling cost incurred by the Operational Creditor for traveling from Mumbai to Hyderabad for attending the physical hearings before the NCLT, Hyderabad is concerned, liberty is given to the Operational Creditor to make a claim before the IRP and IRP to consider the same as per the rules. Petition admitted - moratorium declared. - CP (IB) No. 301/9/HDB/2020 - - - Dated:- 10-10-2022 - Dr. Venkata Ramakrishna Badrinath Nandula, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : Kairav Anil Trivedi, PCA For the Respondents : N. Vinesh Raj, V. Ramesh Babu and Viswanath Yadav ORDER 1. This is a Petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of Insolvency Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the application, initiation of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount and Cheque No. 000891 dated 31.12.2019 for Rs. 50,000/- towards lumpsum interest as agreed by both the parties. A copy of the Minutes of the Meeting dated 30.07.2019 enclosing the copies of the above post-dated cheques were filed at page Nos. 45 to 47 of the application. 7. Settlement agreement was not submitted by the Corporate Debtor even when agreed. Due to no one being present, C.P. No. 328/9/HDB/2019 was dismissed by the Hon'ble NCLT vide docket order dated 27.08.2019, wherein it was mentioned that- No representation on behalf of the Petitioner. On the last date of hearing also there is no representation on behalf of the petitioner. It appears that Petitioner is not interested to proceed with the matter. Accordingly, CP(IB) No. 328/9/HDB/2019 is dismissed for default . 8. Subsequently, the Corporate Debtor has failed to honor its commitment as per the agreement, the Operational Creditor once again got issued a Demand Notice dated 10.01.2020 in Form-3, demanding the Corporate Debtor to pay the total outstanding debt amount of Rs. 5,60,088/-. Since the demand notice, did not evoke any response from the Respondent, the Operational Creditor has filed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matter where existence of a pre-existing dispute is pleaded. 14. Hon'ble Supreme Court of India in re, Mobilox Innovations Private Limited, held that; Therefore, the adjudicating authority, when examining an application under Section 9 of the Act will have to determine: (i) Whether there is an operational debt as defined exceeding Rs. 1 lakh? (See Section 4 of the Act) (ii) Whether the documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? and (iii) Whether there is existence of a dispute between the parties or the record of the pendency of a suit or arbitration proceeding filed before the receipt of the demand notice of the unpaid operational debt in relation to such dispute? If any one of the aforesaid conditions is lacking, the application would have to be rejected. (Emphasis is ours). 15. In so far as the prayer for costs claimed by the Operational Creditor on the plea that the operational creditor was put to hardship and inconvenience by the Corporate Debtor besides the travelling cost incurred by the Operational Creditor for traveling from Mumbai to Hyderabad for attending ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ution of any judgment, decree or order in any court of law, Tribunal, arbitration panel or other authority; 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 Securitization and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 (54 of 2002); the recovery of any property by an owner or lessor where such property is occupied by or in possession of the Corporate Debtor. iii. Notwithstanding anything contained in any other law for the time being in force, a license, permit, registration, quota, concession, clearances or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of the license, p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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