TMI Blog2020 (2) TMI 695X X X X Extracts X X X X X X X X Extracts X X X X ..... Ms. Sucharitha R., Judicial Member And Satya Ranjan Prasad, Technical Member Abinash Padhi, Santosh Kumar Pradhan and S. Jena for the Petitioner. Bibhuti Bhusan Panda for the Respondent. ORDER Ms. Sucharitha R., The applicant/Operational Creditor M/s. Saiom Tours Transport Private Limited registered under Companies Act, 1956 and CIN: U63040OR2009PTC011047 is represented by Mr. Rasaranjan Dash. This application is filed under Section 9 of Insolvency and Bankruptcy Code, 2016 (for brevity IBC) for initiation of Corporate Insolvency Resolution Process of respondent/Corporate Debtor M/s. Nirupama Mining and Transporting Private Limited. 2. The respondent/Corporate Debtor is M/s. Nirupama Mining and Transporting P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent/Corporate Debtor to the applicant/Operational Creditor. Further, there were huge receivables amounting to the tune of ₹ 61,00,000/- from the applicant/Operational Creditor. 5. The respondent/corporate debtor states that the applicant/Operational Creditor made false allegations before Sub-Collector, Angul on 06.01.2018. However, the Sub-Collector dismissed the claim for want of proper documents. The respondent/Corporate Debtor had lodged complaint at Police Station against the director of the applicant/Operational Creditor for his illegal interruption of ongoing work of the respondent/Corporate Debtor. The copy of the station dairy is enclosed along with the reply. The respondent/Corporate Debtor categorically states that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 1 lakh? (See Section 4 of the Act) (ii) Whether the documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? and (iii) Whether there is existence of a dispute between the parties or the record of the pendency of a suit or arbitration proceeding filed before the receipt of the demand notice of the unpaid operational debt in relation to such dispute? If any one of the aforesaid conditions is lacking, the application would have to be rejected. Apart from the above, the Adjudicating Authority must follow the mandate of Section 9, as outlined above, and in particular the mandate of Section 9(5) of the Act, and admit or reject the application, as the case may b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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