TaxTMI 
TaxTMI 
2022 (4) TMI 1162
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....fault on the part of the Corporate Debtor having an outstanding balance of USD 349,677.04. The details of transactions leading to the filing of this petition as averred by the applicant are as follows:- a. In 2014 the operational creditor had lease its tanker containers under four lease agreements to the corporate debtor. In terms of the lease agreement, the operational creditor lease out tanker containers to the Corporate Debtor and issued delivery notes dated 22.04.2014, 03.03.2014, 12.05.2014, 12.07.2014 and 26.08.2014. b. Accordingly, the operational creditor raised total 66 invoices from the period starting from 31.03.2014 to 11.09.2018. Out of the 66 invoices 41 invoices are still outstanding. As the corporate debtor....
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....ble under Section 9 of the Code, if there is no such clause in the agreement. c) It is submitted that an addendum dated 10.07.2014 to the original contract was signed between the operational creditor, corporate debtor and Shri Vaibhavi Logistics and it was agreed between the parties that the payment to the operational creditor shall be made by Shri Vaibhavi Logistics on behalf of the Corporate Debtor in respect of all invoices that are due and payable to the operational creditor. Therefore, the corporate debtor has no obligations to make payment to the operational creditor and thus there is no default committed by corporate debtor. The corporate debtor has duly paid Rs. 3,24,53,181/- i.e. USD 4,63,617 to Shri Vaibhavi Logistics in ....
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....knowledging its liability has also made two payments on 30.07.2020 and 29.12.2020 of USD 3441 and USD 3330 respectively. c. It is submitted that amount of interest claimed is well agreed by the parties which is evident from the invoices and the invoices were never disputed by the corporate debtor. 4. Heard, record perused. The Corporate Debtor placed reliance on addendum dated 10.07.2014 and argued that the entire liability was that of Shri Vaibhavi Logistics, therefore, the Corporate Debtor cannot be made liable for the payment stated above. No doubt there is addendum dated 10.07.2014 executed between Eurotainer S.A., Panoli Products Private Limited and Shri Vaibhavi Logistics, wherein it is written that "Shri Vaibhavi Logistic....
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..... The word 'on behalf of clearly indicates that the ultimate responsibility to pay the same was that of the Corporate Debtor as there is nothing on the record to prove that the Corporate Debtor was absolutely discharged from its liability. The Corporate Debtor failed to prove on record that all such payments as shown in the ledger were actually made by it only for the purpose of making the payment to the Operational Creditor. In fact, those payments appeared to be made with respect of some freight charges apart from other credits & debits. Therefore, in the absence of any convincing evidence on record that the said payment was exclusively to be made by Shri Vaibhavi Logistics to the Operational Creditor, it could not be presumed that th....
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....s admitted. 8. The applicant has not proposed the name of an IRP, therefore, this bench appoints Mr. Vikram Sharma as the Insolvency Resolution Professional of the corporate debtor. The registration number of the IBBI/IPA-001/IP-P02533/2021-2022/13876 and email id [email protected]. IRP above named is appointed subject to the condition that no disciplinary proceedings are pending against him. The specific consent is required to be filed in Form 2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 and made disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulations, 2016. 9. We direct the applicant to deposit a sum of Rs. 2 lacs with the Interim....