TaxTMI 
TaxTMI 
2022 (4) TMI 1159
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...., seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ebrahim Essa Developers Private Limited (CIN U45202MH2010PTC206044), ("Corporate Debtor"). 2. The Corporate Debtor is a company incorporated on 28.07.2010 under the Companies Act, 1956, as a private company limited by shares with the Registrar of Companies, Maharashtra, Mumbai. Its registered office is at 115, Dataawalla Estate, Essa Aziz Compound S.V. Road, Jogeshwari (West), MUMBAI 400102. Therefore, this Bench has jurisdiction to deal with the present petition. 3. The present petition was filed by the Operational Creditor before this Adjudicating Authority claiming that the Corporate Debtor failed to make payment of a total sum of Rs. 42,28,463/- (Rupees f....
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.... of Rs. 42,28,643/- e) The Operational Creditor submits that, as per General Terms and Conditions of the contract dated 7-07-2011 the bill payment was to be made within 7 days of the bill date. f) The Operational Creditor submits that, in spite of repeated request and reminders the Corporate Debtor failed to make payment of the outstanding dues. 5. The case of the Corporate Debtor is as under: i. The Operational Creditor was given work order for carrying out work in the building which was under construction. On completion of the work, the Operational Creditor was to be paid the amount as per the invoice tendered by them. ii. On receiving the Demand Notice dated 28.11.2018 from the Operational Creditor,....
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....d relied upon in the present petition are disputed and not accepted by the Corporate Debtor as the same do not form part of the work order assigned to the Operational Creditor. vii. The Corporate Debtor has filed additional reply dated 22.01.2020 in which it is stated that as per the contract the material was supplied by the Operational Creditor and the amount was deducted from the bills of the Corporate Debtor. The total value in the contract was Rs. 1,13,17,428/-. viii. The Operational Creditor forwarded running bills as per slab wise completion of work from 3.10.2011 to 1.07.2015 amounting to Rs. 37,16,583/-. Though certain amount has been received by the Operational Creditor, the bills have not been provided to the Cor....
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....r in respect of excess amount paid to the Operational Creditor. Findings: 11. We have heard the arguments of Learned Counsel for Operational Creditor and Corporate Debtor and perused the records. 12. The Last date of invoice is 13.10.2016 and the date of filing of CP is well within the Limitation. This Bench has jurisdiction to deal with this Company Petition. The date of default as per the mode of payment in the last invoice is 20.10.2016. 13. The total debt due and payable to the Operational Creditor is Rs. 42,28,463/- (Rupees forty-two lakh twenty-eight thousand four hundred sixty-three Only). 14. The Petition made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corpora....
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....erest 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 Security Interest (SARFAESI) Act, 2002; (iv) The recovery of any property by an owner or lessor where such property is occupied by or in possession of the Corporate Debtor. (c) Notwithstanding the above, during the period of moratorium,- (v) The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period; (vi) That the provisions of sub-section (1) of se....