2018 (7) TMI 1918

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....ncy Resolution Process' against Divine Infracon Pvt. Ltd. ('Corporate Debtor'). The Adjudicating Authority (National Company Law Tribunal), New Delhi, rejected the application by impugned order dated 28th September, 2017 on the ground of 'existence of dispute'. 2. The factual matrix for filing the application under section 9 of the 'I&B Code' was noticed by the Adjudicating Authority is as follows: "2. The Applicants being mother and daughter state that they are owners of service apartment bearing No. 915-A, 9th Floor, Soul City Service Apartment Complex situated at Plot N.4, Sector-13, Dwarka, New Delhi-110078. According to the Applicants, the built up area of the Service Apartment is 34 mtrs. and the super built area is of 68 ....

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....d of lock-in to the extent of Rs. 2,60,05,539.74 which it is claimed is also payable along with the interest at 12% p.a. The aggregate amount thereby it is claimed by the Operational Creditor is in a sum of Rs. 2,74,63,957.77 and in relation to the said sum Applicants state that the notice of demand as required to be issued under Section 8(1) of Insolvency & Bankruptcy Code, 2016 dated 22.4.2017 had been sent which the Applicants claim was also served by courier on the 'Corporate Debtor' on 24.4.2017. In view of the fact that no payment of the amount claimed in default has been remitted nor the notice of demand being replied to, which it is stated to have made the Operational Creditor to file under Section 9 of IBC, 2016 this Petiti....

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....premise is leased for commercial purpose, the land-lord on collection is required to pay Service Tax, but in view of exemption of payment of Service Tax upto Rs. 10 lakhs, the Appellant has not deposited the Service Tax. 8. From the record we find that notice was issued on behalf of 'Corporate Debtor' on 17th January, 2017 to the Appellants for appointment of a Sole Arbitrator, which reads as follows: "Dated: 17.01.2017 To 1. Mrs. Parmod Yadav W/o Mr. R.C. Yadav House No. E-2134 Palam Vihar Gurgaon Haryana 2. Mrs. Sneha Yadav W/o Mr. Siddharth Yadav House No. E-2135 Palam Vihar Gurgaon Haryana SUBJECT: Appointment of Sole Arbitrator ....

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....on) Act, 1996 ("Arbitration Act") and the rules made there under and / or any amendments thereof. The arbitration proceedings shall be held in English and at New Delhi. Decision of the Arbitrator shall be final and binding upon the parties. The Courts at Delhi alone shall have the exclusive jurisdiction for the purpose of this Agreement." In view of the aforementioned clause prevailing, we do hereby suggest the name of the following arbitrators for adjudicating the existing disputes between your good self and M/s Divine Infracon Private Limited. Details of the proposed arbitrators are laid down below: 1. Justice (Retd.) N.K. MODY Former Judge, Madhya Pradesh High Court Senior Ad....