2021 (7) TMI 1438

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....order passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court 2 vide impugned order passed in C.P. (IB) No. 605/NCLT/AHM/2018 Dated 5th April, 2021. 2. Heard Learned Counsel for the Appellant. The Learned Counsel refers to the Construction Agreement between the Appellant and Respondent - Corporate Debtor dated 27th October, 2017, copy of which is at page 210. She refers to contents at page 215 with regard to 'particulars of payment'. According to Learned Counsel there was an agreement between the Appellant and the Respondent - Corporate Debtor for carrying out construction and the Respondent was to pay 20% on receiving cheque from the Government. The Learned Counsel then refers to d....

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....ncipal Company Appeal (AT) (Insolvency) No. 502 of 2021 sum calculated at the rate of 18% per annum from the respective due date of the invoice/debit note. Such interest at the rate of 18% per annum is due to be payable till payment and/ or realization." However, no bill or invoice either annexed with the demand notice or with the application. Hence, it is difficult to make out as to which is the 'due' date and/or date of 'default'. There is also mention of 'debit' note, but the same not annexed along with the application. 14. Further, applicant has totally failed to prove that he falls under the category of operational creditor. It is to be mention herein that to fall under the definition of operat....

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....t of competent jurisdiction for recovery of any claim or as the case may be." 4. We have asked the Learned Counsel to show as to what was the notice sent under Section 8 of the IBC. Notice pointed out is at page 268 of the Appeal. With regard to the particulars of the operational debt what is mentioned is as under:- PARTICULARS OF THE OPERATIONAL DEBT 1. Total amount of debt, Total amount of receivable / total amount of details of transactions debt is INR 29,00,000/-, not including on account of which interest on the principal sum calculated at debt fell due, and the the rate of 18% per annum from the date from which the respective due date of the invoice/bill. Such debt fell due. interest at the rate of 18% per annum i....