TaxTMI 
TaxTMI 
2020 (1) TMI 1419
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Companies Act, 1956, as a private company limited by shares with the Registrar of Companies, Maharashtra, Mumbai. Its CIN is U45202MH2009PTC194919. At the time of filing of the present petition, the petitioner has mentioned the registered office of the corporate debtor as : "C-2098, Oberoi Garden, Off Saki Vihar Road, Chandivali, Andheri (East), Mumbai-400 072." However, as per the MCA web portal, at present, the registered office of the corporate debtor is at A-3027, Oberoi Garden Estate, Off Saki Vihar Road, Chandivali, Andheri (East), Mumbai-400 072, within the State of Maharashtra. Therefore, this Bench has jurisdiction to deal with the present petition. 3. The corporate debtor is into the business of infrastructure development. 4. The present petition was filed before this Adjudicating Authority on the ground that the corporate debtor failed to make payment of a sum of Rs. 69,76,937 (rupees sixty nine lakhs seventy six thousand nine hundred and thirty seven only) as principal with interest at the rate of 18 per cent. per annum from the date of filing of the petition (as mentioned at page 3 of the petition in form 5, bearing Diary No. 12736 of 2017). 5. The case of th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the operational creditor filed a petition dated October 14, 2015 before the hon'ble Bombay High Court for winding up of the respondent-corporate debtor. The extract of the case details from the hon'ble Bombay High Court's website indicates that the petition filing date is November 20, 2015 and it was registered as C. P. No. 255 of 2016 on September 3, 2016. The said extract is placed on record as exhibit 9 at page 56 of the reply. (g) During the pendency of the winding up petition before the hon'ble Bombay High Court, Ministry of Corporate Affairs issued Notification No. G. S. R. 1119(E), dated December 7, 2016*, notifying the transfer all proceedings under the Companies Act, 1956 relating inter alia to winding up on the ground of inability to pay debts, to this Adjudicating Authority in terms of rule 5 of the Companies (Transfer of Pending Proceedings) Rules, 2016, which came into effect from April 1, 2017. (h) Accordingly, vide letter No. COM/58/2916, dated February 1, 2017 the Registry of the hon'ble High Court transferred the present petition to this Adjudicating Authority, and the same was numbered as C. P. (IB) No. 749 of 2017 before this....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the learned Magistrate, Jodhpur. The corporate debtor claims to have a fair chance of getting the criminal complaint dismissed in their favour. 9. The operational creditor has filed a rejoinder on December 13, 2018 in the matter. In the rejoinder, the operational creditor has stated that the issue of defective quality of supplies has been raised in only one out of twenty seven consignments, and that this issue was also resolved. There- after, four more consignments were delivered to the corporate debtor, who did not raise any issues (paragraph 3 of the rejoinder). 10. In so far as the issue of cheques by the corporate debtor is concerned, the operational creditor has expressly denied that the cheques issued originally were exchanged for the reason of change of signatures. 11. We have heard both the parties and perused the record. 12. It is noticed from the e-mail dated January 16, 2014 placed as exhibit 1 at page 39 of the reply, that the corporate debtor has intimated to the operational creditor as follows : "Dear Sir, In the last batch of carbon fibre reinforced laminates, several imperfections were found. The snap shots of those have been attached h....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... accordingly, hereby ordered as follows : (a) The petition bearing C. P. (IB) No.749/MB/C-IV/2017 filed by Ercon Composites, the operational creditor, under section 9 of the IBC read with rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating corporate insolvency resolution process (CIRP) against R & M International P. Ltd. (CIN : U45202MH2009PTC194919), the corporate debtor, is admitted. (b) There shall be a moratorium under section 14 of the IBC, in regard to the following : (i) 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 ; (ii) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein ; (iii) Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of S....