TaxTMI 
TaxTMI 
2021 (7) TMI 563
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....udicating Authority), 2016 (for brevity 'the Rules') by Abdos Polymers Limited (for brevity 'Applicant') through Mr. Sunil Kumar Gupta (Manager-Finance & accounts in the Applicant Company) with a prayer to initiate the Corporate Insolvency process against M/S. Callina Care Overseas Pvt. Ltd. (for brevity 'Corporate Debtor'). 2. The Applicant Abdos Polymers Limited, claimed to be the Operational Creditor, is engaged in the business of Manufacture of plastic products, PP woven sacs bags and fabrics having its registered office at 8/1 Hardutrai Charia Rd Howrah. The identification number of the Applicant company is CIN:U25206WB1994PLC063054. 3. The Respondent M/s. Callina Care Overseas Pvt. Ltd. is a company incor....
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....6.12.2017 as per the address reflected on the MCA website. As per the tracking report the item was shown to be delivered on 16.12.2017 however, that same was returned with a remark "Left" mentioned on the envelope. 6. The Corporate Debtor has not issued any reply against the issue of the Demand Notice dated 01.11.2017. The Operational Creditor has complied with the mandatory provisions of Section 9(3)(b) and (c) of the Code. 7. The Applicant filed this application dated 24.09.2018 as an Operational Creditor praying for initiation of Corporate Insolvency Resolution Process of the Corporate Debtor for its inability to liquidate their claim of Rs. 14,18,462/- towards unpaid invoices for the goods supplied by the Operational Creditor. ....
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....nd strictly which are contemplated, inter alia, by Sections 15, 17, 18, 19, 20 & 21 of the Code. He must follow best practices and principles of fairness which are to apply at various stages of Corporate Insolvency Resolution Process. His conduct should be above board & independent; and he should work with utmost integrity and honesty. It is further made clear that all the personnel connected with the Corporate Debtor, erstwhile directors, promoters or any other person associated with the Management of the Corporate Debtor are under legal obligation under Section 19 of the Code to extend every assistance and cooperation to the Interim Resolution Professional as may be required by his in managing the affairs of the Corporate Debtor. In case ....
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....ional Creditor supplied sub standard products during the year 2014-2015. The Corporate Debtor vide email dated 07.08.2014 stated that the goods (PP sacks) supplied by the Operational Creditor did not meet the specification prescribed by the Customers. Subsequently vide email dated 27.03.2015 the Corporate Debtor informed the Operational Creditor that out of the total quantity of the goods (PP sacks) supplied approx 4.23% comes as a wastages and the Operational Creditor was requested to visit the Corporate Debtor's factory for verification of the same. Despite raising a concern the Operational Creditor failed to take any steps to rectify the same. Thereafter, by email dated 01.02.2016, the Corporate Debtor further informed the Operationa....
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....ils, which were sent much prior to the filing of the present application, clearly shows that there is a pre-existing dispute, with counter-claim being made by the Corporate Debtor as regards the delay in supply of the goods and further wastage of approximately 1.5 tonnes that is required to be compensated by the Operational Creditor. 13. In "Mobilox Innovations Pvt. Ltd. Vs. Kirusa Software (P) Limited-", the Hon'ble Supreme Court analysed the meaning of dispute with respect to Operational Creditors and observed: "33. The scheme under Sections 8 and 9 of the Code, appears to be that an operational creditor, as defined, may, on the occurrence of a default (i.e., on non-payment of a debt, any part whereof has become due and pa....
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....ned above, and in particular the mandate of Section 9(5) of the Act, and admit or reject the application, as the case may be, depending upon the factors mentioned in Section 9(5) of the Act." 14. The date of default is 29.12.2015 which is the date of the last invoice issued which was unpaid, and the present application is filed on 24.09.2018. Hence the application is not time barred and filed within the period of limitation. 15. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 16. From the aforesaid decision, it is clear that the dispute must exist before the receipt of demand notice or invoice. Be that as it may, on appraisal of the a....