TaxTMI 
TaxTMI 
2018 (8) TMI 588
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....nexed as Annexure P-I. II. The Corporate Debtor is a company with authorised share capital of 30 crores and paid-up share capital of 2,69,17,000. In November 2013, the respondent company approached the petitioner company to get the interiors fit out and finishing work at their office situated at Picture Palace, the Mall, Kulri, Mussoorie, District -Dehradun. III. The Respondent Company issued two work contracts in favour of the petitioner company, 1st work contract dated 5 December 2013 confirming and awarding the POP, fixed wood work and stone work at the above stated project for the cost of Rs. 2,49,63,512 and 2nd work contract dated 14 August 2014 confirming and awarding the finishing work, stone work, painting work, floor, wall and ceiling at the said office for a cost of Rs. 119,72,058.20 in favour of the petitioner company. Copies of the two work contracts dated 5 December 2013 and 14 August 2014 issued by the corporate debtor are annexed as Annexure P-3. In furtherance of the 2 work contracts, the respondent company has also issued one purchase order dated 24 December 2013 and several work orders from the month of February 2015 to April 2016 in favour of th....
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....ices which were raised by the petitioner company from time to time despite completion of the entire work as per the contract. VII. The petitioner company had even written reminder email to the respondent company and had requested to clear the outstanding Bill amount. However, repeated request and efforts of the petitioner company went unheard. That the respondent company had miserably failed to clear the outstanding dues in respect of the above bills & invoices which were raised by the petitioner company during execution of the POP Work. VIII. The petitioner contended till date the operational creditor has only received an amount of Rs. 45,343,885 from the respondent, in instalments. The total amount deducted given TDS, WCT and accommodation charges Rs. 4,064,595. Therefore the total amount paid by the respondent company to the petitioner company is Rs. 49,408,480. The corporate debtor had only made part payment out of the total bills raised by the petitioner company. Petitioner has also filed the copy of the bank account statement of the operational creditor for December 2013 to September 2015, showing the part payment of Rs. 45,343,885 received from the corporat....
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....has filed its reply seeking dismissal of the petition on the following grounds: I. That the petitioner/operational creditor as such has substantially failed to provide the details of the alleged unpaid amount of Rs. 2,982,784 against the corporate debtor and have simply reiterated the amounts mentioned under the terms of the contract entered into with the respondent for the project at picture palace, on various dates such as: (a) The amount of rupees 246,53,512 for a work order dated 5 December 2013. (b) The amount of rupees 119,72,058,20 via work order dated 14 August 2014. (c) The amount of Rs. 3,000,005 work order dated 2 February 2015. (d) The amount of Rs. 3,597,968 via work order dated 23rd April 2015. (e) The amount of Rs. 3,542,658 via work order six dated 29th to April 2015. (f) The work order dated 28 August 2015 amount of Rs. 264,283. (g) The work order dated 20 February 2016 for an amount of Rs. 250,000. (h) The work order dated 5th April 2016 for an amount of Rs. 175.000. (i) The work order dated 18th April 2016 for an amount of Rs. 1,071,127. II. It is further stated by ....
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....all your commitment to attend the snags by a separate team which is not happening. You are again requested to get the same attended along with the closure of balance measure works. Regards Faisal". v. Further through email dated 4 July 2016 the respondent requested the petitioner through email correspondence to rectify the several issues pertaining to the work assigned under the agreements and reiterated an unequivocal manner to send it to task team for attending the snags, which were largely going unattended by the petitioner, to complete the balance spending works as per the commitments made by the petitioner which includes the reception internal wooden cladding works, to get Lekage in areas like reception and others attended by the duly authorised and competent workers of the petitioner and to post the person in charge of the petitioner namely Sheo Murty, immediately at the site, as the abovementioned defaults were causing unnecessary delay in the completion of the assigned work under the terms of the agreement. True copy of the email correspondence dated 4 July 2016 is annexed as annexure R-4. The corporate debtor has also pointed ou....
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....n be made out. All the emails are about delay in completion of assigned work only, and the request has been made to expedite and complete the delayed work. There is no substantial and genuine dispute between the Petitioner and respondent, dispute is of superficial nature and despite the petty complaints Respondent Company has continously given the Work Orders to petitioner indicates of broad statisfaction. So in the present case, there is no real existance of dispute. Hence by following the Principle laid down by Hon'ble Supreme Court in the [Civil Appeal No. 9405 of 2017, dated 21-9-2017] in Matter of "Mobilox Innovation (P.) Ltd. v. Kirusa Software (P.) Limited" It is clear that under provision of section 9(5)(II)(d) notice of dispute has been received by the operational creditor but "dispute" raised by Corporate Debtor is mere a patently feeble legal argument and assertion of fact unsupported by valid evidence, which could establish dispute between the Operational Creditor and Corporate Debtor. 5. The operational creditor has filed supplementary affidavit stating no notice had been given by the Corporate Debtor relating to a dispute of the unpaid operation debt of Rs. 42,5....
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....i. The interim Resolution professional shall after collation of all claim received against the corporate debtor and determination of the financial position of the corporate debtor, constitute a committee of creditors. iv. The Interim Resolution Professional shall perform all his functions strictly which are contemplated, inter alia, by Sections 17, 18, 20, 21 of the Code. It is further made clear that all the personnel connected with Corporate Debtor, its promoter or any other person associated with Management of the Corporate Debtor are under a legal obligation under Section 19 of the Code extend every assistance and cooperation to the Interim Resolution Professional. IRP would be at liberty to make appropriate application to this Tribunal with a prayer for Passing an appropriate order. The IRP shall be under a duty to protect and preserve the value of the property of the 'Corporate Debtor' as a part of its obligation imposed by Section 20 of the I& B Code, 2016. v. That the order of moratorium u/s. 14 shall have effect from the date of this order, till the completion of corporate insolvency resolution process or until this Bench approves the resolution plan unde....