S.K. Mohapatra, Member - (1.) This is an application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') for initiation of Corporate Insolvency resolution process in respect of Respondent corporate debtor. In brief the applicant M/s. Soni tech Travels Co. a proprietorship concern, claims to be an operational creditor having its registered office at H-147, B-Block Gopal Nagar, Najafgarh, New Delhi-110043. It is the case of the applicant that the respondent Company (Corporate Debtor) has availed transportation/travel services provided by the applicant from the year 2011 to 2012 and accordingly the bills/invoices were raised and issued to the Corporate Debtor's Company for such services availed by the Corporate Debtor. It is stated that the bills/invoices issued in this regard were duly received and acknowledged by the respondent Corporate Debtor. It is claimed that a sum of Rs. 18,60,921/- (Rupees Eighteen Lakhs Sixty thousand Nine Hundred & twenty One Only) (plus interest @ 24% per annum) is outstanding against various bills/invoices raised for the services tendered. Copies of bills/invoices issued by the applicant company duly received and acknowledged by the corporate debtor including the ledger account have been placed on record.
(2.) The corporate debtor in their reply to the application submitted that operational debt claimed by the applicant pertains to the period 2011-12 and hence the same is hopelessly time barred. It is also their case that significant payments to the applicant after verification of the invoices have been made. It is alleged that applicant has raised invoices even for work not undertaken and that the invoices are forged and fabricated. Additionally it is stated that the bill/invoices annexed with the application were only received subject to their verification and scrutiny. It is alleged that the invoices raised by the applicant contain inflated and forged figures, hence the same are disputed.
(3.) In connection with non-compliance of sub-section (3)(c) of Section 9 of the Code the respondent has contended as follows: "That as per section 9(3)(e) of the IBC it is a mandatory requirement for the OC to file along with the application for initiation of corporate insolvency resolution process, the copy of the certificate from the financial institutions maintaining accounts of the Operation Creditor, confirming that there is no payment of an unpaid operational debt by the Corporate Debtor. In the present case the OC has deliberately not filed any such certificate and hence the application is liable to be dismissed on this ground alone.";