9911796707
TMI Blog2022 (9) TMI 1500X X X X Extracts X X X X X X X X Extracts X X X X ..... plication - application rejected on the ground that for breach of settlement agreement, application - dues arising out of settlement may not be an operational debt - HELD THAT:- Present is a case where the Appellant was awarded the contract to carry on construction and structural work and the dues claimed by the Appellant are operational debt. The Memorandum of Understanding entered between the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Kr. Singh, Mr. Dhruv Rohatgi, Ms. Shairya Singh, Advocates. For the Respondent : Mr. Nitish K. Sharma, Advocate. ORDER Heard Learned Counsel for the Appellant as well as Learned Counsel appearing for the Corporate Debtor . 2. This appeal has been filed against the order dated 03.06.2022 passed by the Adjudicating Authority in CP (IB)No.882/ND/2022 in the application filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as well as the subsequent Memorandum of Understanding were referred as to contract and according to settlement agreement, the amount of Rs. 11 crores was to be paid to the Appellant towards work done under the contract. It is submitted that there being breach in the payment to the Appellant/Operational Creditor, the application was filed u/s 9 which has been wrongly rejected. 5. Learned Counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2019 laying down the manner of payment of Rs. 11 crores amount on breach of which compelled the Appellant to file section 9 application. 8. The Adjudicating Authority has in the impugned order relied on the two orders passed by NCLT and has held that Applicant is not covered as Operational Creditor, hence the application is not maintainable. 9. Present is a case where the Appellant was awar ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
