- (1.) This is an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity the 'Code') with a prayer to initiate insolvency process against the respondent - Gold Plus Glass Industry Limited. The Applicant has claimed himself to be an 'Operational Creditor' and has named the respondent as 'Corporate Debtor.'
(2.) Brief facts of the case necessary for disposal of the controversy raised in the application are that the Applicant was engaged by the respondent for supply, erection, installation and commissioning of wet scrubber system at the respondent's float glass manufacturing facility at Roorkee, as per work order bearing number GPGIL/14-15/SCRUBBER dated 25.09.2014. for a total consideration of INR 57,00,000 (Rupees Fifty-Seven lakhs only). On 29.10.2014, during the erection of equipment at the site, it was also agreed by the respondent that for commissioning of equipment, certain additional equipments would also be required for which extra charges were to be levied. On 18.11.2014, the respondent in principle approved the purchase and installation of additional equipment verbally and the Applicant was assured that the actual cost towards additional equipments would be paid. The project was completed and a trial run of the equipment/additional equipment was given in the presence of the representative of the respondent, which was re-run on 12.04.2015 to the entire satisfaction of the respondent. The Applicant also attended the grievance of the respondent from time to time when complaint was received that the equipment was not working at its 100% capacity. It was on the basis of the equipment installed that the respondent secured the statutory environmental clearances to set up and operate the manufacturing facilities in respect of glass items on 22.05.2015. The respondents have been complaining about the functioning of the plant during the period 25.06.2015 and 13.07.2015. However, on a visit of the Applicant on 26.09.2015, the equipment was found in working order and the glass manufacturing was in progress at full swing. The Applicant has raised invoices against the respondent for supply, installation/erection of additional equipment. It is admitted that a total sum of Rs.49,28,200/- has been paid, which is detailed as under: a) INR 5,50,000 (Rupees Five Lakhs and Fifty Thousand only) on 29.09.2014; b) INR 8,00,000 (Rupees Eight Lakhs only) on 17.12.2014; c) INR 15,00,000 (Rupees Fifteen Lakhs only) on 26.12.2014; d) INR 15.00,000 (Rupees Fifteen Lakhs only) on 12.02.2015; e) INR 4,00,000 (Rupees Four Lakhs only) on 16.03.2015; and f) INR 1,78,200 (Rupees One Lakh Seventy-Eight Thousand and Two Hundred only) on 16.04.2015.
(3.) The Applicant claims to have sent e-mails on 08.10.2015 and 17.11.2015 to the respondent to claim the arrears of amount payable on account of supply, installation/erection of the additional equipment.;