9911796707
TMI Blog2021 (8) TMI 945X X X X Extracts X X X X X X X X Extracts X X X X ..... rate Debtor") alleging that the Corporate debtor committed default in making payment to the Financial Creditor. This petition has been filed by invoking the provisions of Section 9 Insolvency and Bankruptcy Code, 2016 (hereinafter called "Code") read with Rule 6 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The present petition is filed before this Adjudicating Authority on the ground that the Corporate Debtor failed to make payment of a sum of Rs. 5,99,638/- to the Operational Creditor. 3. The submissions of the Financial Creditor are as follows:- i. The Operational Creditor is an unsecured Operational Creditor of Corporate Debtor (BVPL) to whom the Corporate Debtor is admittedly and/or undisputedly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommodation citing adverse market condition. On such assurances continues to grant additional time for payment of the balance amount due. The Operational Creditor states as per Section 9(3)(b) of the Code that it has not received any notice from Corporate Debtor relating to a dispute of the amount due an hereby classified as operational debt owned by the Corporate Debtor to Operational Creditor. vii. The Operational Creditor has sent a Statutory Demand Notice to Corporate Debtor on 30.01.2019 under the code. It is submitted by the Operational Creditor that the Demand Notice was received by the Corporate Debtor. viii. The Operational Creditor submitted that the operational debt arisen out of series of transactions and the last Invoices wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ling upon the Corporate Debtor to pay the above amount of Rs. 5,99,638/-. It was mentioned in the said notice that the date of default is 31.03.2016. The Operational Creditor also annexed the statement of account relating to the Corporate Debtor as per his books of accounts annexed as Annexure No. 4 at Page 16 to the Company Petition covering from the period 29.07.2015 to 31.03.2016. The said statement of account is a mere printed out without any certification of the Income Tax Authority or the signature of the Corporate Debtor which is not legally enough to charge the Corporate Debtor with liability as it was hit under Section 34 of the Evidence Act. ii. As per section 34 of the Evidence Act, mere entries in the books of accounts is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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