Aslam Shaikh vs Solaris Ceramics Pvt. Ltd

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/-...............

-2-

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:

Company Appeal (AT) (Insolvency) No. 491 of 2019 -3-

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.

Company Appeal (AT) (Insolvency) No. 491 of 2019 -4-

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