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2021 (2) TMI 86 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - record of contractual agreement or not - copy of invoices not produced - nature of professional services rendered by the Operational Creditor not clear - proof of service of demand notice ot provided - HELD THAT:- There is no record of any contractual arrangement between the Operational Creditor and the Corporate Debtor - Copy of the invoice has not been attached. What has been attached at p.49 is only a calculation sheet mentioning the principal amount of the invoice, the interest calculation. There is no record of the invoice having been served on the Corporate Debtor - There is no record of what professional services have been rendered by the Operational Creditor - Proof of service of Demand Notice has not been attached to the Petition. However, proof of posting in the form of Speed Post receipt No.EM779732264IN dated 12.04.2019 has been attached as Exhibit ‘D’ at p.59. The tracking receipt attached at p.51 only records that “Item Dispatched.” This is not enough to satisfy the requirement of section 9(5)(ii)(c) of the IBC read with rule 5(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, both of which use the term “delivered.” The pre-requisites of section 9 of the IBC have not been satisfied. Therefore, the present petition fails and therefore, the same is rejected in terms of section 9(5)(ii)(c) of the IBC.
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