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TMI Blog2020 (6) TMI 524X X X X Extracts X X X X X X X X Extracts X X X X ..... cation to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') by Eco Drilling Fluids Private Limited (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency process against DSTR Infrastructures & Projects LLP (for brevity 'Corporate Debtor'). 2. The Applicant is a private limited company incorporated under the provisions of Companies Act, 2013 on 30-4-2016, having CIN U74999MH2016PTC280410, inter-alia, involved in the business of supplying polymer. The applicant is having its registered office at Unit No. 4, Ground Floor, Building No. 01, C-2 Type Sector-02 Opposite Abbott Hotel, Vashi, Navi Mumbai Thane-400703. 3. The Corporate Debtor is LLP incorporated on 31-8-2016 under the provis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor against the applicant's services in the past. 8. The Applicant issued a demand notice dated 21-5-2019 in Form 3 under the provisions of section 8 of I&B Code, 2016 (Under Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 calling upon the corporate debtor to pay the total outstanding amount of Rs. 24,44,289/-. The corporate debtor had replied to the notice vide email dated 25-5-2019 and had asserted as follows: "As we are committed earlier, in the meeting held in Delhi we would do the payment upon receiving the payment from TATA projects, Ahmedabad Metro". 9. It is submitted by the applicant that even after assuring the payment in their reply no payment was made by the corporate debtor. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when the supply had been made and the goods are consumed and the invoices had been raised. It is pertinent to note that there are no correspondences between the parties with respect to any dispute raised by the corporate debtor. 14. The Applicant further states that there was a settlement entered between the parties vide letter dated 15-12-2018 which had to be completed by the corporate debtor within 15 days i.e. by 30-12-2018, but the corporate debtor had failed to comply with it and therefore the settlement between the parties had lapsed. It is submitted that the applicant had sent a reminder email for recovery of the complete dues on 27-3-2019 i.e. after the expiry period of the settlement letter, but no response from corporate debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perational debt. The application is complete as per the requirements of section 9 of the code and in the light of above facts and records the present application is admitted. 20. Since the Applicant has not named the Insolvency Resolution Professional, this Tribunal from the list furnished by Insolvency and Bankruptcy Board of India appoints Mr. Dharm Vir Gupta, With registration number IBBI/IPA-001/IP-P01492/2018-19/12342 (email [email protected]) (Mobile No. 9871777133) as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an IRP named who may act as an IRP in relation to the CIRP of the Respondent and specific consent should be filed in Form 2 of Insolvency and Bankru ..... X X X X Extracts X X X X X X X X Extracts X X X X
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