- (1.) This petition was first listed before this Bench on 29th March, 2017. Upon reopening of the Tribunal on 10th April 2017, opportunity was granted to the petitioner to remove the objections.
(2.) The petitioner, as proprietor of M/s. R.M. House Keeping, has claimed to be an Operational Creditor within the definition as provided for in the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as the "Code"), praying for initiation of the Insolvency Resolution Process against the Respondent/Corporate Debtor on grounds of default in paying the principal amount of Rs. 24,69,320/-, against invoices raised for the services rendered.
(3.) As per averments, the petitioner and the respondent had entered into an agreement whereby the petitioner was required to render services of garbage disposal and drainage cleaning system as well as provide tractors and JCB with operators. It is stated that the said agreement dated 01.04.2012 was for a period of three years, but the Corporate Debtor continued to avail the services of the Operational Creditor thereafter on the same terms and conditions. The Operational Creditor had been raising invoices on a regular basis. The Ledger Account produced reflects that the Operational Debtor made payments from time to time and a running account was maintained. The last part payment in acknowledgement of the outstanding liability and in order to reduce the debt was made by the Corporate Debtor in November 2015. Thereafter, despite assurances to liquidate the outstanding liability, the Corporate Debtor has remained in default. As per averments, the Corporate Debtor was fully satisfied with the services rendered.;