TaxTMI 
TaxTMI 
2020 (12) TMI 370
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....ing Authority) Rules, 2016 (for brevity 'the Rules') by M/s. Dion Global Solutions Ltd. (for brevity 'Applicant'), through its authorized signatory Mr. Sandip Kumar Sinha, authorizing him to file present application vide Board resolution dated 11-10-2019, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP), against M/s. Mykind Vacations Private Limited (for brevity 'Respondent'). 2. The Applicant, the Operational Creditor, is a company incorporated on 11-12-2009, under the provisions of Companies Act, 1956, having CIN No. U93000DL2009PTC196817, having its office at 307, Syndicate House, 3, old Rohtak Road, Inderlok, Delhi-110035. 3. The Respondent, the Corporate Debtor, is a company inc....
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...., the Corporate Debtor failed to comply with the payment obligations, as agreed under the agreement. 6. It has also been stated by the Operational Creditor, that it sent various e-mails on 4-7-2019, 9-7-2019 and 15-7-2019 to the Corporate Debtor and requested it to clear the outstanding amounts. As the Corporate Debtor continued to commit default in clearing the outstanding amount, the Operational Creditor stopped providing services to the Corporate Debtor from 18-7-2019. 7. As per the submissions of the Operational Creditor, on 3-9-2019, representatives of Corporate Debtor and Operational Creditor had a meeting where, the Corporate Debtor assured to make part payment of Rs. 10 Lakhs within 2 days, i.e., by 5-9-2019 and further assure....
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....ust, 2019 on delayed payments. As per the invoices the default occurred on 4-7-2019, when the Corporate Debtor failed to make the outstanding payment and further the default occurred on 6-9-2019, when the Corporate Debtor acknowledged and confirmed the outstanding amount of Rs. 40,07,101.16/- (Rupees Forty Lakhs Seven Thousand One Hundred One and Sixteen Paisa Only). 12. Hence, the application under section 9 of the IBC, 2016 was filed by the applicant to initiate CIRP. The applicant has also filed affidavit of service wherein he states that in compliance of the order dated 23-10-2019, the respondent has been served through speed post on 28-10-2019. The Applicant further states that the respondent has also been served dasti and through e....
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....t is shown as due, it is for Respondent to prove that there are no outstanding dues to be paid to the Applicant. There has been much cloud in the submission of the Respondent. Therefore, without any specific details of material particulars or evidence the fact of existence of a dispute cannot be sustained. 16. In "Innovative Industries Ltd. v. ICICI Ltd. [2017] 84 taxmann.com 320/143 SCL 625 (SC)", the Hon'ble Supreme Court held that pre-existing dispute is the dispute raised before demand notice or invoices were received by the 'Corporate Debtor'. Any subsequent dispute raised while replying to the demand notice under section 8(1) cannot be taken into consideration to hold that there is a pre-existing dispute. 17. In "Mob....
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....d try this application. 20. In view of above, we are satisfied that the present application is complete and the Operational Creditor is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt, and fulfillment of requirements under section 9(5) of the Code. Hence, the present application is admitted. 21. The Applicant has proposed the name of any Interim Resolution Professional. In view of the same, this Bench appoints Mr. Pradeep Kumar Lakhani, having registration no. IBBI/IPA-001/IP-P00541/2017-2018/10966, e-mail address is pradeepiakhani [email protected], mobile no. 9811115617 as the IRP of the Respondent. The IRP is directed to take all such steps as are required under the statute, more sp....