TMI Blog2021 (2) TMI 947X X X X Extracts X X X X X X X X Extracts X X X X ..... owing the postal envelope vide which the demand notice was sent to the corporate debtor and same was returned with remarks left is at Annexure A-1. Whether the operational debt was disputed by the corporate debtor? - HELD THAT:- The respondent-corporate debtor has neither filed any reply to the petition nor disputed the liability towards the operational creditor. Thus, there is no dispute regarding the liability between the corporate debtor and the operational creditor. It is also observed that till the last date of hearing, there has been no representation from the respondent-corporate debtor. There is a total unpaid operational debt (in default) of ₹ 21,57,659.69. It is stated that the demand notice dated 06.12.2018 was se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted:- 19-2-2021 - HON BLE MR. AJAY KUMAR VATSAVAYI, MEMBER (JUDICIAL) And HON BLE MR. RAGHU NAYYAR, MEMBER (TECHNICAL) For the Petitioner : Mr. Pulkit Goyal , Advocate For the respondent : None JUDGEMENT Per : Ajay Kumar Vatsavayi , Member ( Judicial ) The present petition is filed, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity IBC / Code ), 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by M/s Jai Bhawani Steel Industries (through its proprietor, Sh. Nilesh Kumar (for brevity Operational Creditor / Petitioner ) dated 21.01.2019, with a prayer to initiate the Corporate Insolvency Resolution Process against M/s EEE and CEE Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . A demand notice in Forms 3/4 is stated to have been issued on 06.12.2018. The demand notice was accompanied by a total of 6 invoices, copy of ledger account and copy of cheques which were dishonoured. The corporate debtor vide demand notice dated 06.12.2018 was called upon to repay the total unpaid operational debt (in default) of ₹ 21,57,659.69 within 10 days from the receipt of the notice. Copy of the postal receipt, along with tracking reports and email sent to the corporate debtor are attached as Annexures-8 and 9 respectively. 5. It is deposed by the operational creditor that after the service of demand notice dared 06.12.2018, the corporate debtor did not raise any dispute within the stipulated time or up to the date of fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter data of the corporate debtor as well as at the email address. The postal receipt along with tracking report and email sent to the corporate debtor are at Annexures-8 and 9 respectively. A compliance affidavit filed vide Diary No.862 dated 20.02.2019 showing the postal envelope vide which the demand notice was sent to the corporate debtor and same was returned with remarks left is at Annexure A-1. 10. The next issue for consideration is whether the operational debt was disputed by the corporate debtor. The respondent-corporate debtor has neither filed any reply to the petition nor disputed the liability towards the operational creditor. Thus, there is no dispute regarding the liability between the corporate debtor and the operationa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Code stand satisfied. The operational creditorpetitioner states that from the above mentioned fact it is clear that the liability of the respondent-corporate debtor is undisputed. Accordingly, the petitioner has proved the debt and the default, which is more than ₹ 1 lac by the respondent-corporate debtor. 13. In the given facts and circumstances, the present petition being complete and having established the default in payment of the Operational Debt for the default amount being above ₹ 1,00,000/-, the petition is admitted in terms of Section 9(5)(i) of the IBC and accordingly, moratorium is declared in terms of Section 14 of the Code. As a necessary consequence of the moratorium in terms of Section 14, the following ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case may be. 14. In Part III of Form 5, the Operational Creditor has proposed Mr. Rakesh Kumar Singhala as Interim Resolution Professional having Registration No. IBBI/IPA-001/IP- P01290/2018-19/12151, E-mail: rakesh.singhala@gmail.com, M: 99845-25522. The consent of the proposed IRP furnished in Form 2 is placed at Annexure-2. The Law Research Associate of this Tribunal has checked the credentials of the above mentioned IRP and there is nothing adverse against him. In view of the above, this Bench appoints Mr. Rakesh Kumar Singhala as Interim Resolution Professional. The IRP is directed to take the steps as mandated under the I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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