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2019 (9) TMI 1503 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues or not - legal entity or not - status of the petitioner, registered partnership firm or not - service of demand notice - existence of default or dispute or not - forged and fabricated documents for the purpose of filing of present claim. Legal Entity or not - HELD THAT:- It is evident from a perusal of copy of partnership deed dated May 6, 2005 and Form B under rule 8 of the Delhi Partnership (Registration of Firms) Rules, 1972 that petitioner is a partnership firm duly registered with the Registrar of Firms, Delhi. Service of demand notice - compliance with the mandatory provisions of section 9(5)(ii)(c) of the Code or not - HELD THAT:- According to section 27 of the General Clauses Act and section 20 of the Companies Act, 2013 read with rule 35 of the Companies (Incorporation) Rules, 2014 the service has to be effected on the registered office address and that has been done. Therefore, the argument lacks substance and the same is hereby rejected. Forged documents - Part II, clause 6 of the application has been intentionally left blank by the petitioner - HELD THAT:- This objection also does not survive in light of the board resolution dated November 27, 2018 filed along with the petition authorizing Mr. Ajay Bhatjiwale, general manager to be the authorized representative of the form - It is patent from a perusal of the invoices and the delivery challans that the corporate debtor had acknowledged the receipts of goods from the petitioner firm. Existence of default or not - HELD THAT:- There is no escape from the conclusion that "corporate debtor" has committed default and the amount of ₹ 61,24,637 as shown to be the closing balance for the financial year April 1, 2017 to August 31, 2018 has remained unpaid. Thus, default has been committed by the corporate debtor within the meaning of section 3(12) read with section 4 and section 9(1) of the Code, 2016. Name of IRP not mentioned - HELD THAT:- The Insolvency and Bankruptcy Board of India (IBBI) has recommended a panel of insolvency professionals for appointment as insolvency resolution professionals for the period July 1, 2019 to December 31, 2019 in compliance with section 16(3)(a) of the Code in order to avoid delay. The list of recommended insolvency professionals provides instant solution to the National Company Law Tribunal-Adjudicating Authority to pick up the name and appoint anyone. It also helps in meeting the time lines given in the Code and save unnecessary wastage of time in asking the Insolvency and Bankruptcy Board of India to recommend the name and then to appoint such interim resolution professional by the National Company Law Tribunal-Adjudicating Authority - Mr. Punkaj Jain, is appointed as an interim resolution professional. The petition admitted - moratorium declared.
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