TaxTMI 
TaxTMI 
2022 (11) TMI 564
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....to Adjudicating Authority) Rules, 2016 by Mr. Pawan Sharma, proprietor of M/s. Pawan Security Services ('Operational Creditor'), for initiation of Corporate Insolvency Resolution Process ('CIRP') against Star Facilities Management Private Limited ('Corporate Debtor'). 3. The present Petition was filed on 18.03.2019 before this Adjudicating Authority. The total amount claimed in default is 1,92,93,421/- as on 18.03.2019, plus interest @ 18%. The date of default is stated to be on 31.10.2016. 4. Submissions by the Ld. Counsel appearing on behalf of the Operational Creditor. 4.1. That the Operational Creditor entered into several contracts with Corporate Debtor from time to time to provide security, manpower services....
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.... a mala fide intention to coerce and arm twist the Respondent and to extract monies which are neither legally due nor - payable and to force the Respondent into insolvency. 5.2. That the Corporate Debtor has entered into a contract dated 01.04.2014 with the Operational Creditor to provide security services at Dharuhera Project, Haryana for a period of one year starting from 01.04.2015, However, the Services provided were not satisfactory. On site visit, it was observed that the Security Guards were not found at their respective location and the guards used to sleep in the office hours, further the guards were not medically examined. Further, as per the agreement it was agreed that the Operational Creditor will provide all trained/experienc....
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....ion 8, reproduced above, the moment there is an occurrence of a default, copy of an invoice demanding payment of the amount involved in the default is to be delivered by way of a Demand Notice to the 'Operational Creditor'. Form III gives the details of the invoices. In the instant case, the 'Operational Creditor' has given the details of invoices from (pages 399 to 406 of Volume II) and has also crystallized the amount at Rs. 2,39,85,521.35/-, which is unpaid from 2011. Therefore, the argument of the Learned Counsel for the 'Operational Creditor' that the period should be confined only from 2015 to 2017 cannot be sustained. The Tribunal cannot confine to one or other invoice if the Applicant has relied on all the in....
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....ger maintained by the Corporate Debtor an amount of Rupees 1,54,21,882 is due and payable against the service of the Operational Creditor. For the aforesaid amount the Respondent has already settled the claim of Rs. 1,54,21,882 with the Operational Creditor which was the liability as admitted by the Corporate Debtor. The Respondent has also filed an affidavit in respect to settlement of dues with the Operational Creditor 6.5. The dispute with respect to the remaining amount is disputed and it is evident from the documents placed on record by the Corporate Debtor that there exists a pre-existing dispute between the parties and it is the mandate of law that if there exists a pre-existing dispute between the parties the Adjudicating Authority....