2019 (10) TMI 894

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lvency Resolution Process (CIRP). 2. The Application is filed claiming a total default of Rs.6,36,167/- (Rupees Six Lakh Thirty-Six Thousand One Hundred and sixty Seven Only) including interest at 3% p.m. up to 20.02.2019. The Application is filed by Mr Koustubh Bharat Rajepandhare, Director of Operational Creditor duly authorised to file this Application vide Board Resolution dated 15.03.2019. 3. The Applicant submitted that it was engaged in the business of providing an online platform for making reservations on their participating restaurants. The Applicant and Corporate Debtor entered into an Agreement dated 21.05.2018, whereby the Applicant provided services to the Corporate Debtor by listing and creating a reservation widget and m....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....laid in the Agreement dated 21.05.2018. Therefore, the Corporate Debtor in its reply to demand notice requested the Applicant to provide a copy of Agreement dated 21.05.2018. 6. The Applicant filed present Application on 06.06.2019, the Applicant was directed to serve the Court Notice to the Corporate Debtor vide our Order dated 17.07.2019. The Applicant filed its Affidavit of Service of Notice on 13.09.2019. It is on record that the court notice was duly served upon the Corporate Debtor, but the Corporate Debtor chose not to file any objections in its defence even after providing an opportunity to do so. However, the Counsel for Corporate Debtor appeared on date of hearing and submitted that it had raised dispute against the claim of App....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and has not provided any evidence to prove that any such dispute existed at any time prior to receipt of Demand Notice. The Corporate Debtor has also not denied the claim of Applicant. Moreover, the Applicant has annexed an email dated 21.11.2018, which shows that the Applicant had sent the copy of Contract to the Corporate Debtor. Therefore, the defence raised by Corporate Debtor cannot be treated as pre-existing dispute and therefore, the contentions raised by the Corporate Debtor are not tenable and hence rejected. 10. The Application is complete and has been filed under proper form. Copy of the Demand Notice dated 21.02.2019 along with postal track report reflecting due receipt of Notice by Corporate Debtor and Bank Certificate dated ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....itiating corporate insolvency resolution process is at this moment admitted. We further declare moratorium u/s 14 of I&B Code with consequential directions as mentioned below: I. That this Bench as a result of this prohibits: a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property inclu....