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Knowiz Solutions Private Limited Versus Getit Transnational Private Limited

Corporate insolvency resolution process - eligibility of Application by corporate applicant - whether the petition has been filed under Rule 7(1) read with Section 10 of the Code or the petition has to be treated as the one under Section 9 of the Code? - Held that:- A perusal of the Rules shows that a Corporate Debtor can approach the Tribunal for initiation of a Resolution Process under Section 10 of the Code by filing an application on the Form 6. Form 6 is necessarily related to a 'Corporate .....

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ading and contradictory. - For the reasons aforementioned, this petition fails and the same is dismissed with cost of ₹ 10,000/- C.P. NO. 1082/2016 - Dated:- 16-8-2017 - MR. M. M. KUMAR AND MS. DEEPA KRISHAN, JJ. For The Petitioner : Sunil Goyal, Adv. JUDGMENT CHIEF JUSTICE (RETD.) M. M. KUMAR, HON'BLE PRESIDENT Knowiz Solutions Private Limited had approached this Tribunal by filing the instant petition under sub-rule (1) of Rule 7 of Insolvency and Bankruptcy (Application to Adjud .....

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by speed post which was delivered to the respondent on 26.5.2017. A perusal of the demand notice shows that the petitioner claims himself to be an 'Operational Creditor' because the demand notice is issued under Section 8 of the Code. However, in the affidavit dated 5.5.2017 the petitioner claims that it was filing an application under Sub-Rule (1) of Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. A perusal of Rule 7 of the Insolvency and Ban .....

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d I am thus competent to swear the present affidavit. 2. I say and submit that I got issued legal notice of demand dated 11.05.2016 under the provisions of Section 434(1)(a) of the Companies Act, 1956 demand a sum of ₹ 13,27,735/- together with interest @ 24% per annum w.e.f. 20.06.2016 till payment. The same was sent to the respondent company. The same was however, returned unserved with remarks left without address. 3. I say and submit that on failure of repay the said outstanding amount .....

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and considered under new Act in accordance with the law. 5. I say and submit that the petitioner is filing an application under sub-rule (1) of rule 7 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 against the respondent company. Copy of the said application is annexed herewith as Annexure A- 1. 6. I say and submit that the petitioner propose to appoint Mr. Mukesh Kumar Grover as an insolvency professional registered with The Indian Institute of Insolvency Profe .....

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rate of interest till payment. 8. I say and submit that in respect of my claim of the said sum or any part thereof, I have relied on the documents specified below: i. Agreement dated 27.05.2015 ii. Copy of Books of Account along with certificate under Section 65B of Indian Evidence Act, years 2014-15 and 2015-16. iii. Copy of Form-26-AS obtained from Income Tax Website. iv. Copies of various emails between the parties. v. Copies of various invoices issued to respondent company. vi. Legal Notice .....

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and correct to the best of my information, no part of it is false and nothing material has been concealed thereby.' Para 5 of the affidavit categorically states that the petitioner was filing an application under sub-rule (1) of rule 7 of insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 whereas in the notice of demand dated 23.5.2017 it is projected that the notice was issued under Section 8 of the Code. The affidavit dated 5.6.2017 reads as under:- 1. That I am .....

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king report of Indian Post are annexed hereto showing Item Delivered on 26.05.2017. 3. I say and submit that stipulated 10 days have expired and the petition is complete for admission hearing. 4. I say and submit that the contents of the above affidavit are true and correct. 2. On a detailed examination of the pleadings it was not possible to decipher whether the petition has been filed under Rule 7(1) read with Section 10 of the Code or the petition has to be treated as the one under Section 9 .....

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