PHILIPS INDIA LTD Vs. GOODWILL HOSPITAL AND RESEARCH CENTRE LTD

JUDGEMENT

(1.) This Order shall dispose of CP (ISB) No. 03 (PB) of 2017 & CP (ISB) No. 04 (PB) of 2017. Both the applications have been filed by M/s. Philips India Limited invoking the provisions of Section-9 Insolvency and Bankruptcy Code 2016 (for brevity IBC).

(2.) Facts may be noticed from the first Petition i.e. CP (ISB)03(PB) of 2017. The applicant has claimed that the Respondent Goodwill Hospital and Research Centre Limited is a 'Corporate Debtor' as it owe a sum of Rs. 1,119,869.00/- to the applicant as the principal amount plus interest. The applicant is engaged in manufacturing, distribution and maintenance of various health care equipments, it entered into a Comprehensive Annual Maintenance contract with the respondent on 2.8.2011 and 11.5.2012, in respect of the Allum FD20C for the period from 1.9.2011 to 31.8.2012 & 1.9.2012 to 31.8.2013, respectively. The applicant had agreed to provide plant, maintenance of the installed machine, Allum FD 20C etc. During the period of contract, the applicant promised to keep the equipment in good working condition. The applicant asserts that respondent had agreed to make the payment in accordance with the provisions made in Clause 6 of the contract which reads as under:

(3.) The applicant has stated that it has provided maintenance during the relevant period and fulfilled all its obligations in accordance with the provisions of the contract. However, the respondent has failed to make full payment to the applicant. It is claimed that the respondent never denied the factum of performing its obligation by the applicant in accordance with the terms of the contract. The following amount has been claimed against the invoices :