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TMI Blog2019 (12) TMI 1395X X X X Extracts X X X X X X X X Extracts X X X X ..... Adjudicating Authority) Rules, 2016 [hereinafter referred to as "the Rules"], as operational creditor/applicant. 2. The petitioner/operational creditor is a private limited company incorporated on 24th September, 2012 having identification No. U15310GJ2012PTC072076 and having registered office at S.G. Highway, Ahmedabad is engaged in supply of cattle feed. 3. The respondent/corporate debtor is a company registered under the Companies Act on 13th August, 2008, having identification No. U01405GJ2008PTC054763 and having registered office at Bharuch, Gujarat State. Authorised share capital of the respondent company is Rs. 5,00,00,000/- and paid up share capital is Rs. 2,57,00,000/-. 4. The applicant/Petitioner has submitted that the operatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That, demand notice was sent via speed post, copy of the speed post receipts along with track report available from the website it attached to the application as proof of service. 7. In support of its claim, the petitioner has submitted copy of the following documents: - Sr. No. Particulars Page No. 1 Affidavit in support of the application in form 5 16-17 2 Operational creditor's master data sheet along with list of directors 18-19 3 Corporate debtor's master data along with list of directors 20-21 4 Notice issued by the operational creditor to the corporate debtor 22-24 5 Ledger account of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of the outstanding. It appears that having failed to get any reply from the respondent, the applicant was compelled to issue demand notice under section 8 of I & B Code on 27.03.2019. Record also shows that the respondent has not raised any reply/dispute against the demand notice so issued by the applicant. Record also shows that pursuant to order dated 16.07.2019, the petitioner had made paper publication in Financial Express on 05.10.2019. 11. It has been observed in Mobilox Innovative Private Limited vs. Kirusa Software Private Limited [2017] 1 IBJ(JP) 2 SC that while examining an application under Section 9 of the Act, will have to determine the following: - (i) Whether there is an "operational debt" as defined exceeding Rs. 1.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of corporate insolvency resolution and call for submission of claims as provided under Section 15 of the Code. Subsection (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Insolvency Resolution Professional. This Adjudicating Authority direct the Interim Resolution Professional to make public announcement of initiation of Corporate Insolvency Process and call for submission of claims under Section 15 as required by Section 13(1)(b) of the Code. 14. From the above stated discussion and on the basis of material available on record, it is a fit case to initiate Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code. 15. The petition is, there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case may be. 18. The applicant/operational creditor has proposed the name of CA Kedar Ramratan Laddha to act as IRP. Therefore, this Adjudicating Authority hereby appoint CA Kedar Ramratan Laddha, 6/5 Sahyog Apartment, Behind Keshav Nagar, RTO Circle, Ahmedabad 380 027 ([email protected]) having registration No. IBBI/IPA-001/IP-P00586/2017-2018/ 11115 to act as an interim resolution professional under Section 13(1)(c) of the Code. 19. This Petition is accordingly admitted. 20. Communicate a copy of this order to the applicant, Corporate Debtor, Registrar of Companies and to the Interim Resol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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