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TMI Blog2022 (11) TMI 504X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent/corporate debtor relating to the dispute of the unpaid operational debt and has further undertaken that there is no pre-existing dispute between the parties. Whether this application was filed within limitation? - HELD THAT:- A perusal of the case file shows that the application was filed vide Diary No. 1379 dated 19.02.2020, and the date of default as is mentioned in Part-IV of Form 5 is 25.01.2019 i.e. the date on which the respondent/corporate debtor assured the petitioner/operational creditor to clear the outstanding amount. Therefore, this Adjudicating Authority finds that this application has been filed within limitation. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. It is evident from the above-mentioned facts that the liability of the corporate debtor is undisputed and established. Also, there is no rebuttal to the claim filed by the petitioner as respondent/corporate debtor chose not to appear. Accordingly, the petitioner proved the debt and the default which is above threshold limit. In the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is further stated that as on 20.11.2018, the corporate debtor had outstanding balance of Rs. 6,95,957/- and the operational creditor sent a legal notice through e-mail dated 20.11.2018 (Annexure P-3) through its counsel for release of the outstanding payment. 4. In response to the same, the respondent/corporate debtor through its email dated 21.11.2018 (Annexure P-4) assured the operational creditor to clear its outstanding balance by 25.01.2019. Thereafter, the respondent/corporate debtor made the payment of Rs. 69,500/- on 22.11.2018 and Rs. 1,00,000/- on 23.01.2019 but failed to discharge its commitment of clearing the total outstanding amount. Thus, the amount in default, as claimed in the present petition, is Rs. 5,26,457/-. Copies of ledger account of the petitioner/operational creditor has been annexed as Annexure P-5. 5. It is further stated that since despite several communication/follow up with the respondent/corporate debtor through mail/phone for release of payment of admitted outstanding dues it failed to make the payment, thus, the operational creditor sent a Demand Notice dated 18.12.2019 in Form 3 (Annexure P-6) by speed post on 24.12.2019 at the registere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent/corporate debtor and in the interest of justice, yet another opportunity to file the reply was granted to it and the petitioner/operational creditor was directed to serve copy of order to the respondent/corporate debtor and file affidavit of service to that effect. In compliance thereof, affidavit of service was filed vide Diary No. 00271/2 dated 25.05.2021, wherein it has been deposed by learned Practising Company Secretary for the petitioner/operational creditor that compliance of direction given by this Tribunal has been duly made by serving the order to M/s. Compaq International Private Limited, respondent/corporate debtor, via Speed Post EP631545168IN dated 30.03.2021 on the registered address of the respondent/corporate debtor as available in the MCA Portal and the same was delivered on 20.04.2021. Further, e-mail annexing order dated 10.03.2021 was also sent at the registered e-mail address of the corporate debtor, as available on the MCA Website and the same has been delivered and has not bounced back. Copy of postal receipt, tracking report and e-mail has been annexed with the said affidavit. 8. When the matter was listed on 17.03.2022, it was observed that case c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the application was filed vide Diary No. 1379 dated 19.02.2020, and the date of default as is mentioned in Part-IV of Form 5 is 25.01.2019 i.e. the date on which the respondent/corporate debtor assured the petitioner/operational creditor to clear the outstanding amount. Therefore, this Adjudicating Authority finds that this application has been filed within limitation. 13. We have gone through the contents of the application filed in Form 5 and find the same to be complete. As discussed above, there is a total unpaid operational debt of ₹ 5,26,457/-, as claimed in the petition. As noted above, the operational creditor has provided the details of the debt due and has also annexed with the petition copy of ledger account statement, and invoices. Accordingly, the petitioner/operational creditor has established the debt and the default, which is more than Rupees one lakh i.e. the threshold limit (pre-revised). 14. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. It is evident from the above-mentioned facts that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y be notified by the Central Government in consultation with any operational sector regulator and to a surety in a contract of guarantee to a corporate debtor. 19. The order of moratorium shall have effect from the date of this order till completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case may be. 20. The Law Research Associate of this Tribunal has checked the credentials of Mr. Chandan Bhatia from the online database provided by the IBBI and there is nothing adverse against him. In view of the above, we appoint Mr. Chandan Bhatia, having Registration No. IBBI/IPA-001/IP-P-02320/2021-2022/13614, E-mail: [email protected], Mobile No. 9711130205, as the Interim Resolution Professional with the following directions:- i.) The term of appointment of Mr. Chandan Bhatia shall be in accordance with the provisions of Section 16(5) of the Code. The Interim Resolution Professional is directed to file his written consent in Form-2 within one week of this order; ii.) In terms of Section 17 of the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eve the required information from the computerized data of the corporate debtor from the systems handed over to the Interim Resolution Professional after initiation of CIRP. For retrieving relevant information, the Interim Resolution Professional may take the help of any digital forensic companies from the empanelled list available with the Registry of this Adjudicating Authority, if required. This is imperative for meeting the Code's objectives for maximising the value of the assets of the corporate debtor and completing the resolution process in a time-bound manner. The Interim Resolution professional is also directed to make a specific mention of non-compliance, if any, in this regard in his status report filed before this Adjudicating Authority immediately after a month of the initiation of the CIRP and move an application seeking appropriate remedy, if required. vii.) The Interim Resolution Professional shall after collation of all the claims received against the Corporate Debtor and the determination of the operational position of the Corporate Debtor constitute a Committee of Creditors and shall file a report, certifying the constitution of the Committee to this Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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