Mohd. Sharief Tariq, Member - (1.) The Application TCP/3(IB)/CB/2017 has been filed by M/s. Nupower Renewables Private Ltd. against M/s. Cape Infrastructure Private Ltd. u/s. 9 of the I & B Code, 2016 claiming Rs. 5,25,00,000/- along with interest @ 18% per annum w.e.f. 18th September 2013 till the date of realisation.
(2.) The brief history of the case is that the petitioner has engaged the Corporate Debtor for rendering services in respect of setting of and development of 300 MW Wind power Project in the State of Gujarat under a Frame work Agreement dated 19.04.2011. The Corporate debtor has received Rs. 5,25,00,000/- as advance from the petitioner. But the Corporate Debtor did not perform the services as agreed. Thereafter, the Corporate Debtor has agreed to refund the sum within two to three years starting from January 2014 vide Agreement dated 18th September 2013. Ultimately, the Corporate Debtor failed to make the payment as promised. The petitioner issued legal notice on 30th October 2015 and the Corporate Debtor replied to the notice vide letter dated 29.11.2015 raising allegations which are not failing within the term 'dispute' as defined u/s. 5(6) of the I & B Code, 2016.
(3.) In the light of the above facts and circumstances, the petitioner prays for winding up of the company and appointment of OL as a liquidator to the respondent company and grant such other relief(s) as deemed fit.;