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TMI Blog2019 (5) TMI 1883X X X X Extracts X X X X X X X X Extracts X X X X ..... trical fitting and components and that between the period of 07.04.2014 to 23.09.2014, it supplied goods upon receipt of the purchase order and in relation to the said supply raised invoices for the goods supplied. It is further stated that the Operational Creditor had been maintaining a running account against the supply of goods and it also recorded all the transactions as transpired between the parties and as per the ledger account, a balance of Rs. 7,38,910/- is due as on date. Despite issue of notice Under Section 8(1) of Insolvency & Bankruptcy Code, 2016 the Corporate Debtor has failed to clear the admitted debt and hence this petition has come to be filed before this Tribunal under Section 9 of the Insolvency and Bankruptcy Code, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nking mode if any payments have been made by the said Mr. Manish Jain the same is contested to that of enabling creation of bogus entries/bills. 4. A rejoinder has been filed by the petitioner in which it is seen that certain documents namely copy of the bill issued by the manufacturer namely Shree Sidhbali Steels Limited, Roorkee Road, Bhopa Bye-Pass, Muzaffarnagar-251001(Uttar Pradesh) as well as Form No. 21 and transport challan has been annexed in addition to sales tax return of the Operational Creditor which has also been annexed, as documents in support of supply of goods to the Corporate Debtor. It is also stated in the rejoinder that towards acknowledgment of debt, a cheque amount of Rs. 15,91,734/- had been issued by the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to initiate the proceedings under the provisions of the Insolvency & Bankruptcy Code, 2016. In order to address the same, a reference is required to be made to the provisions of Section 9 of the Insolvency and Bankruptcy Code, 2016 enabling an operational creditor to file a petition under IBC, 2016 which reads as follows. 9. (1) After the expiry of the period of ten days from the date of delivery of the notice or invoice demanding payment under sub-section (1) of section 8, if the operational creditor does not receive payment from the corporate debtor or notice of the dispute under sub-section (2) of section 8, the operational creditor may file an application before the Adjudicating Authority for initiating a corporate insolvency ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny other entity established under a statute, and includes a person resident outside India; A combined reading of these provisions namely Section 3(23), Section 5(20) read with Section 9 (1) shows that a petition can be preferred by a 'person' and who can be treated as an 'Operational Creditor' to whom an operational debt is owed by the Corporate Debtor and upon issue of notice of payment as provided under Section 8 of IBC, 2016 on default can come before this Tribunal by way of an application preferred under Section 9 of the Insolvency and Bankruptcy Code, 2016. It is thus seen from the above definition of a person as defined under Section 3(23) of Insolvency and Bankruptcy Code, 2016 that while an 'individual' has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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