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TMI Blog2019 (10) TMI 1343X X X X Extracts X X X X X X X X Extracts X X X X ..... he amount of Rs. 27,52,286/- towards the supply of CRGO electrical steel sheet in coils and secondary defective CRGO silicon electrical steel sheet in coil. The details of transactions leading to the filing of this petition as averred by the petitioner are as follows: i. On 30.04.2010. the corporate debtor has paid an advance of Rs. 12,00,000/- towards supply of CRGO electrical steel sheet in coils and secondary defective CRGO silicon electrical steel sheet in coil. On 01.01.2011 & 17.02.2011. the operational creditor had supplied the products as per specifications agreed vide invoice bearing no 025 dated 01.01.2011 amounting Rs. 12,00.000/- & 033 dated 17.02.2011 amounting Rs. 13,06.414/-. On 30.04.2010 the operational creditor received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner has cited the decisions by the Hon'ble High Court of Delhi in State Bank of India vs. Kanhaiya Lal and Ors. and by the Hon'ble Supreme Court of India in Hiralal and others vs. Bad/cull and others in his favour and argued that the matter is within the period of limitation as the corporate debtor has confirmed the outstanding amounts from 01.04.2018 to 08.03.2019 of the operational creditor by mail dated 18.03.2019. 4. The matter was heard by us and from the details of documents filed by the operational creditor it is clear that the operational creditor has established the existence of debt and default on the part of the corporate debtor. The corporate debtor is absent and has not availed the opportunity to defend the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... insolvency resolution process."
8. The interim resolution professional ("IRP"), named in the list provided by the IBBI, is Mr. Shashi Sharma, email id: [email protected], phone number: 9312078117 being confirmed by this Bench. He shall take such other and further steps as are required under the statute, more specifically in terms of Section 15, 17 and 18 of the Code and file his report within 30 days before this Bench.
9. The Applicant shall deposit a sum of Rs. 2 lakhs to enable the IRP to meet the immediate expenses. The same shall be accounted for by the IRP and shall be reimbursed to the Applicant to be recovered as costs of the CIRP.
10. Renotify this case for report of the IRP on 26.11.2019. X X X X Extracts X X X X X X X X Extracts X X X X
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