TaxTMI 
TaxTMI 
TaxTMI 
2021 (12) TMI 1318
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'IBC, 2016') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate the Corporate Insolvency Resolution Process against M/ s. Sercotech Power Systems Limited (for brevity 'Corporate Debtor/ Respondent'). 2. That the Corporate Debtor namely, M/S. Servotech Power Systems Limited is a Company incorporated on 24.09.2004 with CIN L31200DL2004PLC129379 under the provisions of the erstwhile Companies Act, 1956 having its registered Office at 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector 10, Rohini, New Delhi- 110085. 3. That the Authorized Share Capital of the Corporate Debtor....
X X X X Extracts X X X X
X X X X Extracts X X X X
....w : PART-IV PARTICULARS OF OPERATIONAL DEBT l. Total amount of debt. details of transaction on account of which debt fell due, and the date from which the debt fell due. Total amount of debt owned: INR 1,99,65,061 (Indian rupees one crore ninety-nine lacs sixty-five thousand sixty-one) break up set out below: Principle: INR 87,97,700 (Indian Rupees eighty seven lakhs ninety seven thousand seven hundred) Interest (at 18% p.a.) calculated upto 1 March 2021: INR 1,11,67,361 (Indian Rupees one crore eleven lakhs sixty-seven thousand three hundred sixty-one) Details of transaction on account of which the debt fell due: Purchase order dated 01.07.2013 (Purchase Order) was raised by Servotech Power Systems Limit....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n thousand three hundred sixty- one), which is inclusive of interest calculated at 18% per annum, upto 01.03.2021. Workings for computation of the amount in default and the interest claimed thereon are enclosed herewith and marked Annexure A-12. 8. That from perusal of the Part IV of the Application, it is observed that the last unpaid invoice claimed by the Operational Creditor is dated 10.04.2014. 9. That the Applicant has annexed one email dated 26.03.2014 stating that the Corporate Debtor has admitted its claim to the extent Of Rs. 183.55 Lakhs as on 01.03.2014, the scanned copy Of the same is reproduced below : 10. That the Operational Creditor has annexed its Ledger Account as per which the last payment of Rs. 52,69,992/- ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....accordingly Dismissed. ============= Document 1 ANNEXURE A-4 46 From: Anil Bansal [mailto:[email protected]] Sent: Wednesday, March 26, 2014 10:13 AM To: JANI, Ashok (Tudor-India); BISHT, Yogender (DELHI) Cc: rajinderbhai servotechindia; DESAI, Bimal (TUDOR-INDIA) Subject: Fwd: invoice in pdf format Dear Mr Ashok Jani, We refer to email to Mr. Raman Bhatia on 25/3/14. The required details as below:- Tudor Payables (Inst. Projects Accounts) Balance As on 1/3/2014 Lac Rs. 183.55 Add Purchases Lac Rs. 22.30 Payments up to 21/3/14 Lac Rs. 61.06 Planned for 26/3/2014 Lac Rs. 52.70 Balance amount with in week based on project accounts inflows. Best Regards Anil Bansal CFO ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 03.10.2019 some of these invoices, payments against 5 (five) invoices and 1 (one) debit note amounting to INR 87,97,700 (Indian Rupees eighty-seven lakhs ninety-seven thousand seven hundred) remains due and outstanding till date. The business was carried out on mutual, open and current account between the parties. Mr. Anil Bansal - Respondent's personnel sent an email to Tudor India's team setting out in detail the amounts payable to Tudor India by Servotech and stating that payment of INR 52,70,000 (Indian Rupees Fifty-Two Lakhs Seventy Thousand Only) is planned for 26.03.2014. Tudor India issued a legal notice calling upon Servotech to make payment of the outstanding amount of INR 87,97,700 (Ind....