TaxTMI 
TaxTMI 
2021 (7) TMI 355
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....ion Solution and Services Pvt. Ltd. to initiate the Corporate Insolvency Resolution Process against Corporate Debtor M/s. Euphoria Technologies Private Limited for the default amount of Rs. 53,28,346/- and interest thereon. 2. The operational creditor submitted that the corporate debtor approached the operational creditor for the purchase of Kodak Scanners and support service. The corporate debtor issued the purchase order vide PO No. ETPL/PO/16-17/084 dated 14.03.2017 for the purchase of the aforesaid product. The operational creditor supplied the said goods and raised the 4 invoice Vide invoice No. M/SUP/17-18/465A for the amount of Rs. 5,12,479/-, SCN/17-18/1147A for Rs. 6,07,110/-, Invoice No. SCN/17-18/1147B for Rs. 6,07,110/- and i....
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....ods but, operational creditor failed to provide the agreed services. 5. Thereafter, the operational creditor filed the present application for initiation of the Corporate Insolvency Resolution Process against the corporate debtor. The Corporate debtor filed the reply to the present application and contended that the present application is not accompanied by the no dispute affidavit as envisaged under section 9(3) (b) of IBC 2016, therefore, the present application is liable to be rejected on this ground. The corporate debtor further contended that the application filed by the operational creditor is not supported by an affidavit as prescribed under rules 10 of AA Rules read with Rules 20 to 24 and 26 of NCLT Rules. 6. The corporate de....
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.... procedural aspect and non-production of this certificate is in no manner prejudice against the interest of the corporate debtor as it is not mandatory. 9. Heard the counsel of operational as well as corporate debtor and perused the record. It appears that the objection raised by the corporate debtor that the operational creditor has not filed the affidavit under section 9 (3) (b) of IBC 2016 is a technical ground that is curable. The said affidavit is not mandatory unless affects the case or causes prejudice to the corporate debtor. Moreover, the reply made by the corporate debtor to the demand notice has been considered in the present application on merit, hence, such a plea of the corporate debtor has got no relevance. 10. The cont....
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....sed at that point of time. In said two e-mails the corporate debtor through disputed the outstanding amount but the corporate debtor has stated in its mail dated 07.03.2018 that Rs. 49,37,549/- is outstanding instead of 53,28,347/- which amounts to an acknowledgment of debt being due and payable. The invoice has been raised by the operational creditor on 09.03.2018 after statement between the operational creditor and the corporate debtor vide communicated dated 16.02.2018 issued by the operational creditor and the same was acknowledged by the director of the corporate debtor. Thus, this application has been filed within the limitation. The amount claimed as well as acknowledged by the corporate debtor also meets the threshold limit as presc....
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....The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process or until this Adjudicating Authority approves the Resolution Plan under sub-section (1) of Section 31 or passes an order for liquidation of Corporate Debtor Company under Section 33 of the Insolvency & Bankruptcy Code, 2016, as the case may be. III. The operational creditor has not recommended any Resolution Professional to appoint as an IRP, hence, we hereby appoint Mr. Pradeep Srivastava having registration No. IBBI/IPA-002/IP-NO 1012/2020-2021/13299, email Id, [email protected] to act as an IRP under Section 13(1) (c) of the Code. IV. The IRP shall perform all functions as contem....