2020 (10) TMI 221

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....ough Mr. Amresh Kumar Jha, being the Accounts-Executive of the applicant firm, duly authorized vide Board Resolution of the applicant dated 10.11.2018, with a prayer to initiate the Corporate Insolvency process against M/s. Zavitsa Realtors Pvt. Ltd. for brevity 'Corporate Debtor'). 2. The Applicant is a private limited company incorporated on 24.09.2007 under the provision of Companies Act, 1956 bearing CIN No. U14200DL2007PTC168592 having its registered office at D-176, Mansarovar Garden, New Delhi-110015. The authorized share capital of the company is Rs. 1,50,00,000/- and the paid up capital of the company is Rs. 1,23,47,710/-. The applicant is engaged in the business of import, processing and supply of wide variety of marbles ....

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....he applicant issued a demand notice dated 20.12.2018 under Section 8 of the code along with invoices and ledger accounts calling upon the corporate debtor to pay the total outstanding amount of Rs. 14,12,342/- along with interest of Rs. 2,16,610/- @ 18% p.a. calculated from 25.01.2018 to 01.12.2018. The notice was served upon the registered office of the corporate debtor on 26.12.2018. 8. Upon receipt of demand notice the corporate debtor sent a reply dated 05.01.2019, the corporate debtor denied the contention of the applicant and stated that the goods supplied by the applicant were of defective and substandard in quality and raised several objections for the same. Further, the corporate debtor stated that items were never supplied on tim....

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....ing dispute of genuine nature. On the contrary the issuance of various cheques by the corporate debtor belies its story of dispute and confirms the admission of liability. This leaves no doubt that the default has occurred for the payment of the operational debt for which the invoices were raised by the applicant and the so called dispute raised by the corporate debtor is merely a moonshine dispute as laid down In "Mobilox Innovative Private Limited vs. Kirusa Software Private Limited", the Hon'ble Supreme Court observed that "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)(2(d) if notice of dispute ....

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.... Performa prescribed under Rule 6 of the Insolvency and Bankruptcy Code, 2016 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 r/w Section 9 of the code and is complete. The applicant is entitled to claim its dues, establishing the default in payment of the operational debt. Hence, the application is admitted. 17. As a consequence of application being admitted and IRP name not suggested by the applicant, this Bench appoints Mr. Rajesh Kumar Goel, having email id: [email protected] and registration no. IBBI/IPA-001/IP-P01810/2019-20/12761 as the Interim Resolution Professional, subject to the condition that no disciplinary proceedings are pending against him. The IRP is required to file consent Form-....