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Minoo Karkaria Vs Spenta Enclave Private Limited

National Company Law Tribunal · Decided on 29 March 2023 · Citation: (2023) 03 NCLT CK 0079

HON’BLE JUDGES
Kishore Vemulapalli, Member (J) · Prabhat Kumar, Member (T)
ACTS & SECTIONS REFERRED
Insolvency and Bankruptcy Code, 2016 — Section 7, 9
RESULT
Disposed Of
CASE NUMBER
CP (IB) No.1233/MB-IV/2022
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Judgment

12 paragraphs · 313 words

Prabhat Kumar, Member (Technical)

1.

This is an application bearing C.P. (IB) No. 1233/MB-IV/2022 filed by Minoo Karkaria, the Financial Creditor/Applicant, under section 9 of Insolvency & Bankruptcy Code, 2016 (I&B Code) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Spenta Enclave Private Limited, Corporate Debtor.

2.

The Application is filed by Mr. Minoo Karkaria, a sole proprietor of M/s. Butterfly, claiming total outstanding amount of Rs.1,05,37,169/-(Rupees one crore five lakh thirty-seven thousand one hundred sixty-nine only).

3.

The Date of Default is stated to be 05.04.2022 in Part-IV of the Petition. The Petition is filed on 04.08.2022 which is within the period of three years from the Date of Default.

4.

The  Corporate  Debtor  had  sought  the  service  of  the  Operational Creditor in their project know as ‘Alta Vista’ in Chembur, Mumbai vide work order dated 16.03.2019. The Corporate Debtor has given the confirmation of the completion of work.

5.

The Corporate Debtor has filed its Affidavit-in-reply 30.11.2022 disputing the claim and inability to pay the dues.

6.

We heard both the Counsels and perused the material on record.

7.

It is observed that, this Adjudicating Authority has admitted the Corporate Debtor into CIRP in C.P. (IB) No. 389/MB/C-IV/2022 filed under section 7 of Code vide order dated 24.03.2023. In view of this, the present Company Petition is liable to be dismissed as infructuous.

ORDER

8.

The petition bearing CP (IB) 1233/MB-IV/2022 filed by Minoo Karkaria, the Financial Creditor/Applicant, under section 9 of Insolvency & Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process against Spenta Enclave Private Limited, Corporate Debtor, is hereby Dismissed as Infructuous.

9.

The Operational Creditor may file its claim before the Interim Resolution Professional as per the Law.

10.

It is clarified that we are not deciding on the merits of the case, which shall be adjudicated in case present application stands restored later on.