National Company Law Appellate Tribunal
Aslam Shaikh vs Solaris Ceramics Pvt. Ltd on 6 May, 2019
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 491 of 2019
IN THE MATTER OF:
Aslam Shaikh ...Appellant
Vs.
Solaris Ceramics Private Limited ...Respondent
Present: For Appellant: - Mr. Rajshekhar Rao, Mr. Aman Verma, Mr. Abhishek Adke, Advocates.
For Respondent: - Ms. Sakshee Sharma and Mr. Nikhil Jain, Advocates.
O R D E R 06.05.2019─ The Respondent- ('Operational Creditor') has filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ("I&B Code" for short). It having admitted by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai, by order dated 9th April, 2019. The said order is under challenge.
2. Learned counsel appearing on behalf of the Appellant, Shareholder of 'Nasban Import and Export Private Limited'- ('Corporate Debtor') submits that there is no amount payable in view of inter communication made through e-mail.
Contd/-...............
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3. Reliance has been placed on two e-mails. One dated 15th February, 2018 (at Page 110) and the other dated 2nd December, 2017 (at Page 111), which reads as follows:
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4. Heard Mr. Rajshekhar Rao, learned counsel appearing on behalf of the Appellant and Ms. Sakshee Sharma, learned counsel appearing on behalf of the Respondent.
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5. On plain reading of the two emails aforesaid, it is clear that the debt amount was payable by the 'Corporate Debtor'. Subsequently they had made some correspondence but the Respondent in view of such default of payment filed application under Section 9 of the 'I&B Code'.
6. Learned counsel for the Appellant submits that the Respondent cannot recover the money as it was either to be adjusted or was to be recovered in terms of the letter dated 15th February, 2018. However, as the 'Corporate Insolvency Resolution Process' is not a recovery proceeding, we are not inclined to accept such submission.
7. We find no merit in this appeal. It is accordingly dismissed. No costs.
(Justice S.J. Mukhopadhaya) Chairperson (Justice A.I.S. Cheema) Member(Judicial) Ar/g Company Appeal (AT) (Insolvency) No. 491 of 2019