TMI Blog2021 (6) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... ate debtor has admitted the debt and not raised a pre-existing dispute and has not paid the amount due. The application is complete. The corporate debtor has committed default in payment of operational debt and, therefore, it is a fit case to initiate the Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code - Application admitted - moratorium declared. - C. P. (I.B.) No. 690/9/NCLT/AHM/2019 - - - Dated:- 5-4-2021 - Manorama Kumari, Member (J) And Chockalingam Thirunavukkarasu, Member (T) For the Appellant : Tirth Nayak, Advocate ORDER Chockalingam Thirunavukkarasu, Member (T) 1. Mr. Suresh Kumar P. Baheti (Petitioner/Operational Creditor) is a Proprietor of M/s. Sunil Metal Cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he date of delivery. Further, the Petitioner submitted that since the Respondent Corporate Debtor was making payment on an ad-hoc basis as against various invoices raised by the Petitioner, the Outstanding amount of ₹ 48,02,475/- pertains to last 4 invoices raised by the Petitioner, details of which are as under: 5. In support of its claim, the applicant has annexed to the application copy of documents like; copies of four invoices under which sums are due and outstanding, an affidavit filed by the applicant dated 07/03/2020 along with a copy of the delivery challan in respect of the invoices duly acknowledged by the respondent and copy of bounced cheques along with the return memo and relevant Bank statement, Statement of Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 06/06/2017 in between the respondent and the Applicant. 8. Thereafter, the applicant/operational creditor issued a demand notice dated 20/08/2018 under section 8 of the Code in form 3 along with its annexures and Form No. 4 to the Corporate Debtor. However, the Respondent/Corporate debtor neither made the payment nor replied to the demand notice issued in Form No. 3/4. It is also stated by the applicant that the respondent has also not raised any objection about the default committed by them in making payment of ₹ 48,02,475/- to the Applicant. 9. Further, the I.A. is filed by the Applicant with a prayer to amend the cause title page of the application, wherein the name of the applicant has been reflected as Sunil Metal Corporati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount due. The application is complete. 13. In view of the above and based on material available on record it is evident that the corporate debtor has committed default in payment of operational debt and, therefore, it is a fit case to initiate the Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code. 14. The Operational Creditor has proposed the name of Mr. Sanjay Badrilal Punglia having Registration No. IBBI/IPA-001/IP-P00855/2017-2018/11437 to act as Interim Insolvency Resolution Professional under Section 13(1)(c) of the IB Code and written communication in Form -2 of IBBI has been submitted by the proposed IRP. 15. The petition is, therefore, admitted and the moratorium is declared f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r for liquidation of Corporate Debtor under Section 33, as the case may be. 18. This Adjudicating Authority hereby appoints Mr. Sanjau Badrilal Punglia having Registration No. IBBI/IPA-001/IP-P00855/2017-2018/11437 to act as Interim Insolvency Resolution Professional under Section 13(1)(c) of the IB Code. Further, this Adjudicating Authority directs the Interim Insolvency 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. 19. This Petition CP(IB) 690/9/NCLT/AHM/2019 is accordingly admitted. 20. Communicate a copy of this order to the Applicant, Corporate Debtor, Registrar of Companies, a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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