2020 (12) TMI 368

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....Application to Adjudicating Authority), 2016 (for brevity 'the Rules') by Creative Infraheights Pvt. Ltd. (for brevity 'Applicant') through Mr. Krishna Kumar Verma, being the Director of the applicant firm, duly authorized vide Board Resolution dated 01.07.2019, with a prayer to initiate the Corporate Insolvency process against JBK Developers Pvt. Ltd. (for brevity 'Corporate Debtor'). 2. The Applicant is a private limited company incorporated on 13.07.2011 under the provision of Companies Act, 1956 bearing CIN No. U45400DL2011PTC222229 having its registered office at 111, First Floor, Maharaja Agrasen, Shopping Complex, LSC-7, Sector-9, Rohini, Delhi-110085. The authorized share capital of the company is Rs. 1,00....

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....xecution of work order as per the agreement, three running account bills dated 29.03.2019, 30.03.2019 and 25.04.2019 ("hereinafter referred to as RA Bills") were raised to the corporate debtor for payment. The bills were duly verified by the project manager as per the measurement sheets of the applicants and after finalization of the amounts claimed there under, the said RA bills were duly received by the Authorized Signatory of the corporate debtor and approved for an amount of Rs. 34,081,24,52/-. The said approved and signed bills along with measurement sheets have been annexed herein. Consequently, the applicant made several reminders through various mode of communication, for payment of the aforementioned amount payable. 6. The appli....

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....ate the date on which notice was served upon the corporate debtor. d) The corporate debtor submits that no operational debt is due and outstanding as the applicant had never undertook any work on the site as per the agreed terms vide agreement dated 03.01.2019. Further, due to which the corporate debtor has incurred loss amounting to Rs. 10,00,00/-. Hence, the corporate debtor has claimed the said amount as compensation. 9. The applicant has filed rejoinder wherein it is contended that the corporate debtor has raised misleading contentions. It is further submitted that the applicant has filed the ledger accounts in support of its claims. The applicant opposing the contention of corporate debtor that no work was done pursuant to ....

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.... are mere statements made by Corporate Debtor which has not been substantiated with any proof. 11. The corporate debtor has not placed on record any document which exhibits the plausible dispute between the parties. The objection raised with respect to maintainability of the application, there is no merit as on the issue of service on Section 8 notice is overruled by Hon'ble NCLAT. The corporate debtor claims to have asked for compensation from applicant but no document has been annexed, on the contrary the applicant has placed on record the document with respect to execution of work, and invoices received by the corporate debtor but not objected the so-called dispute raised by the corporate debtor, as mere reply filed by the corpora....

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....rivolous and unable to categorize as genuine dispute as reproduced above. Hence, contention of the corporate debtor, of a pre existing dispute without any evidence and merit is a clear after thought to defeat the claim of the applicant. 12. The date of default is 11.09.2019 and the present application is filed on 09.10.2019. Hence the application is not time barred and filed within the period of limitation. 13. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 14. The Applicant has filed an affidavit in compliance of section 9(3)(b) which is placed on record. 15. The present application is filed on the Performa prescribed under Rule ....