TaxTMI 
TaxTMI 
2026 (2) TMI 738
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....tor, namely, Make India Smart Pvt. Ltd. under Section 61 of the Insolvency and Bankruptcy Code, 2016 (in short 'Code') being aggrieved against the order dated 14.10.2021 by which an application filed under Section 9 r/w Rules 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016 (in short 'Rules'), bearing CP (IB) No. 1025/ND/2018, against Safeway Insurance TPA Pvt. Ltd. (Corporate Debtor), for the resolution of an amount of Rs. 1,80,18,889/- excluding interest for the default having occurred on 12.05.2017, has been dismissed. 2. The brief facts of this case are that the Appellant/OC, being service provider rendered services for making smart cards whereas the CD is an insurance third party administrator (i....
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....Code in which similar issues were raised about the poor quality of services which envisages pre-existing dispute and also that the payment was to be made to the Appellant on receipt from the Insurer. 8. The Tribunal after taking into consideration the clause regarding payment similarly existing in all the agreements, came to a conclusion that the default in payment of the amount would start only when CD would receive the payment from the Insurer. The date of default has been given by the Appellant as 12.05.2017 but it has been found that the CD has not committed the default because the payment was not received from the insurer, therefore, the application was dismissed on the ground that the element of default is not fulfilled. However, t....
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....t month's bill and 35% of the second month's bill in the subsequent month, subject to state share payments. Third payment: 25% of the first month's bill and 35% of the second month's bill in the subsequent month, subject to state payments. It is submitted that the default alleged to have occurred on 12.05.2017 is without any basis because the default would arise only if the funds though received are not remitted. It is also submitted that the services rendered by the Appellant were below standard or substandard because the National Insurance Company had imposed a penalty of Rs. 26,17,462/- on the Respondent due to fake claims arising from the Appellant's enrolment data in Baran District. It is also submitted that the Appellant issued fabric....
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....3.20213 for several districts of Rajasthan and on 24.12.2013 for the districts of Murshidabad and Nadia in West Bengal. The Respondent/Company was registered as 3rd party administrator under Section 3 of the Insurance Act, 1938 and in terms of RSBY agreement, the Respondent was entitled to appoint such number of intermediaries including the smart card provider for the effective implementation of the RSBY and for fulfilment of its obligations under the RSBY agreement. The company thus agreed to appoint the Appellant (contractor) for the purpose of enrolment of the beneficiaries and to issue smart cards to them on the terms and conditions of the agreement. 15. Since the issue involved is of non-payment of the admitted debt which has been f....
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....be made after 15 working days of the first month bill from which collected amount from the field shall be deducted. 2. The Second payment of 35% of First months" Bill shall be made in the subsequent month subject to payment received from State share and the first payment of 35% of the second months Bill shall be made after 15 working days from the date of submission of 2ºf months bill from which the collected amount from the field would be deducted. 3. The Third payment of 25% of the first months bill shall be made in the subsequent month and second payment of 35% of the Second months bill shall be made in the subsequent month subject to the payment received from the State share and the first payment of 35% of the third month bill ....