- (1.) This is an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity the 'Code') for initiating Insolvency Resolution Process against the 'Corporate Debtor' on the ground of default in making payment of the operational debt. Accordingly, the prayer has been made by the 'Operational Creditor' for triggering the insolvency resolution process and issuance of directions in accordance with the provisions of Section 13 and 14 etc.
(2.) Brief facts of the case necessary for disposal of the controversy raised in the application are that the Corporate Debtor had occupied shops bearing numbers: a. F-51, F-52, F-53 & F-54 b. UB-14, UB-15, UB-16, UB-17, UB-18, UB-19, UB-20, UB-21, UB-22, UB-23, UB-24, UB-25 & UB-26; and c. G-12, G-12A, G-12B, G-12C, G-12D, G-12E, G-13, G- 13A, G-13B, G-13C, G-13D, G-13E, G-13F & G-13G The total area was 60,563 square feet situated at Pacific Mall, Sahibabad, Ghaziabad (U.P.). It is appropriate to mention that the Operational Creditor is engaged in maintenance of the Pacific Mall and has been appointed as a Mall Maintenance Agency by its developer. The agreement appointing him as such is attached (Annexure-'B'). Accordingly the Corporate Debtor had agreed to pay maintenance charges as per clause 2 of the agreement.
(3.) The Operational Creditor-applicant has been raising invoices upon the owners/occupier of the premises, in the normal course of business in lieu of maintenance of the premises as per the agreed terms and conditions. The invoices were raised upon the Operational Debtor which had been duly paid to the Operational Creditor. However, the Operational Debtor has failed to clear the following invoices: - JUDGEMENT_174_LAWS(NCLT)5_2017_1.html It is thus evident that from 01.05.2016 to 01.11.2016 the total accumulated debt amount to Rs. 20,75,144/-. The copies of the invoices have also been placed on record. A copy of the statement of account of the Operational Creditor in respect of the Operational Debtor has also been annexed with the application.;