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2020 (12) TMI 367
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....judicating Authority) Rules, 2016 (for brevity 'the Rules') by M/s. Raaj Unocal Lubricants Ltd. (for brevity 'Applicant'), through its director Mr. Madhav Rajgarhia, authorizing him to file present application vide Board resolution dated 23.03.2019, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP), against M/s. Swastik Pipe Ltd. (for brevity 'Respondent'). 2. The Applicant, the Operational Creditor, is a company incorporated on 26.12.1990, under the provisions of Companies Act, 1956, having CIN No. U23201DL1990PLC042487, having its office at Farm No. 6A, Gobind Sadan Road, Gadaipur Farms, Mehrauli, New Delhi, inter alia, engaged in the business of the supply of lubricant oils. 3. The....
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....orate Debtor. The amount due, for which supply was made in May, 2017, is Rs. 1,72,982/- (Rupees One Lakh Seventy Two Thousand Nine Hundred Eighty Two). Therefore, the same amount is outstanding debt due and payable by the Corporate Debtor. 6. The Applicant further states that, the payment had fallen due in the month of May, 2017 and the Corporate Debtor is also liable to pay interest at the rate of 15% on the outstanding amount which is calculated at a sum of Rs. 49,732/- (Rupees Forty Nine Thousand Seven Hundred Thirty Two), from the date on which the debt fell due. Thus, the total amount due and in default, inclusive of the debt and the interest amount is Rs. 2,22,714/- (Rupees Two Lakhs Twenty Two Thousand Seven Hundred Fourteen). ....
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....After the service of said notice, the respondents have caused appearance in the matter and have filed their reply. In its reply to the present section 9 application, the respondent states that, Notice of Demand, within the purview of section 8(1) of the I&B Code, 2016 was to be delivered before the initiation of the CIRP, which has not been received by the Corporate Debtor on its registered address, as it is a mandatory condition to be satisfied before the initiation of the CIRP under the I & B code. The Operational Creditor has concealed from this Tribunal that the Corporate Debtor vide its email dated 06.06.2017 had raised a dispute towards the quality/ quantity of the products alleged to be supplied by the Operational Creditor. 13. Th....
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....years, a new creed of litigants has cropped up. Those who belong to this creed do not have any respect for truth. They shamelessly resort to falsehood and unethical means for achieving their goals, in order to meet the challenge posed by this new creed of litigants, the courts have from time to time evolved new rules and it is now well established that a litigant who attempts to pollute the stream of justice or who touches the pure fountain of justice with tainted hands, is not entitled to any relief, interim or final". 15. The applicant in its rejoinder, further denies the existence of any dispute prior to the issuance of Demand Notice under section 8 of the I & B Code, 2016. However, the Corporate Debtor had sent Notice of Dispute to t....
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....ted by the Applicant that the alleged email which the Corporate Debtor claims to have sent for raising an alleged dispute with regard to the quality of the products supplied by the Operational Creditor was never received by the Operational Creditor. The email addresses as contained in the annexure filed by the Corporate Debtor are not that of the Operational Creditor. Further, the Corporate Debtor has even after supposedly sending the alleged email dated 06.06.2017, made payments towards the outstanding dues of the Operational Creditor as can be seen from the books of accounts attached with the petition. 19. Further the Hon'ble Supreme of India in Mobilox Innovations Private Limited vs. Kirusa Software Private limited has observed that-....