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2019 (1) TMI 576 - Tri - Insolvency and BankruptcyInitiation of insolvency resolution process against M/s Richa Industries Limited, the respondent-corporate debtor - Section 9 of the Insolvency & Bankruptcy Code, 2016 - Held that:- It is pertinent to mention that the respondent-corporate debtor has not placed on record its own ledger account to contradict the entries made in the ledger account relied upon by the petitioner. Even the respondent has not pleaded that it raised any dispute about the defect in the quality of the material at any time before the demand notice was sent to the corporate debtor - there was no pre-existing dispute between the parties in order to disentitle the operational creditor to an order of admission. The petitioner being the operational creditor is not obliged to propose the name of the Resolution Professional to be appointed as the Interim Resolution Professional, but the petitioner in Part-III of the application Form, proposed the name of Mr. Arvind Kumar registered with IBBI having registration No. IBBI/IPA-001/IP-P00178/2017-18/10357 to be appointed as the Interim Resolution Professional in case the petition is admitted. The petition is admitted - The matter be now listed on 21.12.2018 for passing formal order of declaring moratorium and for appointment of the Interim Resolution Professional.
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