TaxTMI 
TaxTMI 
TaxTMI 
2020 (10) TMI 7
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....mplex, 1st Floor, Above Barista Coffee Shop, Model Town, Ludhiana - 141002. The petitioner-operational creditor has authorized Mr. Sanjeev Goyal, Liaison Officer to file petition on its behalf. The copy of the Board Resolution dated 17.04.2019 passed by the Board of Directors of Operational Creditor is at Annexure-2 of the petition. There is also an affidavit in support of the contents of the application is at page 19 of the petition. The application has been filed in Form 5 as prescribed in Rule 6(1) of the Rules. 2. M/s. Evershine Solvex Private Limited (for short hereinafter referred to as the 'respondent' and/or 'corporate debtor') is a company incorporated under the provisions of Companies Act, 2013 with authorized share capital of Rs. 5,50,00,000/- and paid up share capital of Rs. 5,49,99,000/-. The CIN of the respondent-corporate debtor is U15143PB1983PTC005567 and its registered office is situated in Muktsar in the State of Punjab and therefore, the matter falls within the territorial jurisdiction of this Tribunal. Copy of the master data of the respondent-corporate debtor is at Annexure-1 of the petition. 3. The facts of the case, briefly, as stated in th....
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.... the outstanding amount. It is also deposed that there is no dispute was pending or arose by the corporate debtor qua the outstanding amount even prior to the sending of the statutory demand notice dated 08.03.2019. The affidavit is appended with the petition at pages 20 to 21. 7. It is submitted that the after the service of demand notice respondent-corporate debtor had deposited an amount of Rs. 8 lakhs vide two transactions, first an amount of Rs. 3 lakhs on 09.04.2019 and secondly Rs. 5 lakhs on 22.04.2019, therefore, this amount of Rs. 8 lakhs has been adjusted against the total amount due from the corporate debtor and hence the total outstanding is Rs. 19,00,000/- (Rupees Nineteen Lakhs only). Copy of ledger account maintained by the operational creditor of the corporate debtor w.e.f. 01.04.2015 to 01.05.2019 is appended as Annexure-4 (pages 25 to 27 of the petition). 8. Notice of this petition was issued to the Corporate Debtor on 13.06.2019 to show cause as to why this petition be not admitted. 9. On the last date of hearing, the following order was passed:- "Affidavit of service was filed by the petitioner vide Diary No.3976 dated 08.08.2019 in proof of service of the....
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....any." 14. The Hon'ble Supreme Court in Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited, (2018) 1 SCC 353, Civil Appeal No. 9405 of 2017, held as under:- "51. It is clear, therefore, that once the operational creditor has filed an application, which is otherwise complete, the adjudicating authority must reject the application under Section 9(5)(ii)(d) if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. It is clear that such notice must bring to the notice of the operational creditor the "existence" of a dispute or the fact that a suit or arbitration proceeding relating to a dispute is pending between the parties. Therefore, all that the adjudicating authority is to see at this stage is whether there is a plausible contention which requires further investigation and that the "dispute" is not a patently feeble legal argument or an assertion of fact unsupported by evidence. It is important to separate the grain from the chaff and to reject a spurious defence which is mere bluster. However, in doing so, the Court does not need to be satisfied that the defence is likely to succeed. T....
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....ill date. It is also observed that the conditions under Section 9 of the Code stand satisfied. The applicant-operational creditor states that from the abovementioned fact it is clear that the liability of the respondent-corporate debtor is undisputed. Accordingly, the petitioner proved the debt and the default, which is more than Rs. 1 lac by the respondent-corporate debtor. 17. In view of the satisfaction of the conditions provided for in Section 9(5)(i) of the Code, we admit the petition for initiation of the CIRP process in the case of the Corporate Debtor M/s. Evershine Solvex Private Limited and direct moratorium and appointment of Interim Resolution Professional as below. 18. We declare the moratorium in terms of sub-section (1) of Section 14 of the Code, as under:- 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, reco....
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....long with the guidelines and the panel of resolution professionals approved for NCLT, Chandigarh Bench for appointment as IRP or Liquidator. The panel is valid for six months from 01.01.2020 to 30.06.2020. We select Mr. Anjum Goyal appearing at Serial No.8 of the panel to be appointed as Interim Resolution Professional. 24. The Law Research Associate of this Tribunal has checked the credentials of Mr. Anjum Goyal and there is nothing adverse against him. 25. In view of the above, we appoint Mr. Anjum Goyal, Registration No.IBBI/IPA-002/IP-N00251/2017-2018/10765, E-mail:[email protected] as the Interim Resolution Professional with the following directions: - i.) The term of appointment of Mr. Anjum Goyal shall be in accordance with the provisions of Section 16(5) of the Code; ii.) In terms of Section 17 of the Code, from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the Corporate Debtor shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are vested with Interim....