9911796707
TMI Blog2023 (8) TMI 1099X X X X Extracts X X X X X X X X Extracts X X X X ..... Bankruptcy - Maintainability of application - initiation of CIRP - Operational Creditors - claim of the Appellant was that his EMD is not refunded - HELD THAT:- Present is a case where the Appellant was only a tenderer who has submitted EMD along with the tender which tender was admittedly rejected. The EMD payment by the Appellant was not towards any goods or services and the submission that i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Mr. Sonam Sharma , Ms. Riddhi Jain , Advocates ORDER Heard Learned Counsel for the Appellant. 2. This Appeal has been filed against the order dated 17.05.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench-I, by which order Section 9 Application filed by the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oviding services to the Respondent. It is submitted that the said amount can be treated as advance payment and it is covered by operational debt. Learned Counsel for the Appellant has placed reliance on the judgment of the Hon ble Supreme Court in Consolidated Construction Consortium Limited vs. Hitro Energy Solutions Private Limited- (2022) 7 SCC 164 . 4. We have considered the submissions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t has relied on paragraph 50.1 of the judgment which is to the following effect:- 50.1. First, Section 5(21) defines operational debt as a claim in respect of the provision of goods or services . The operative requirement is that the claim must bear some nexus with a provision of goods or services, without specifying who is to be the supplier or receiver. Such an interpretation is also sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount of Rs.50 lakhs was paid towards the project which was directed to be paid and on account of non-payment of the said amount the proceedings were initiated. The facts of the present case are clearly distinguishable and the above judgment does not help the Appellant. We are of the view that no error has been committed by the Adjudicating Authority in rejecting Section 9 Application. Appeal is di ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
