9911796707
TMI Blog2022 (3) TMI 1218X X X X Extracts X X X X X X X X Extracts X X X X ..... mar Shah, Ld. PCS. For the Respondents : Pavan S. Godiawala, Ld. Adv. ORDER 1. This application has been filed by M/s. Ambica Auxiliaries Pvt. Ltd.- the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "IBC, 2016") for initiation of the Corporate Insolvency Resolution Process (hereinafter referred to as "CIRP") against the M/s. Jinaam& ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 for the payment of Rs. 30,95,737/- which was delivered at the registered address of the Corporate Debtor on 30.12.2020. The Corporate Debtor neither repaid the debt nor replied to the demand notice. Hence, this application before this Adjudicating Authority is filed to initiate the CIRP. 4. Learned Counsel for the Corporate Debtor appeared and filed its reply on 13.07.2021 wherein the Corporat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able to be dismissed on this ground. 5. We have considered the submissions made on behalf of Learned Counsels for both sides. It is noted that the Operational Creditor supplied the goods and raised various invoices from 01.06.2018 to 09.03.2019 for the total amount of Rs. 30,95,734/-. 6. The Learned Counsel for the Corporate Debtor during the course of the hearing has admitted the claimed amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... squarely applicable to the facts of the present case. 8. The present petition is filed by the Operational Creditor on 18.02.2021 for the default amount of Rs. 30,95,734/-, which is after the date of said notification. 9. Accordingly, the present application is not maintainable since the default amount is less than the threshold limit prescribed under Section 4 of the IBC, 2016. 10. Hence, the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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