TMI Blog2022 (5) TMI 1254X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Despite the fact that the demand notice was raised by the applicant on 03.12.2019. Hence the applicant succeeded in proving the fact that the above said amount was due against the C.R. Strips which were sold by the applicant to the respondent and the said amount was not paid qua. It has been repeatedly held that the Scheme of the code is to ensure that when a default takes place, in the sense that a debt becomes due and is not paid, the insolvency resolution process begins. Resultantly, since there is no dispute raised by the Corporate Debtor, in fact the corporate debtor has clearly admitted that a default has occurred. This Tribunal is of the affirm view that there was default on the part of the respondent in pursuance of invoices r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2016 via Speed Post as well as via email. 4. The Corporate Debtor has not submitted his reply. But argued the matter on merits before this Tribunal. 5. We have heard Ld. Counsel for both the parties and perused the averments made in the application. On behalf of the applicant, the ledger Annexure A2 pertaining to Stamping Private Limited has been filed on record which shows that certain payments were regularly made with respect to the invoices raised by the applicant herein, ultimately, on 14.09.2018 a sum of Rs. 1,78,992/- were due against the Faridabad Stampings Pvt. Ltd., which were not paid. Accordingly, two invoices were further raised by the applicant herein on 01.11.2018 and 01.03.2019 which includes the interest over the ab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tands admitted in terms of Section 9(5) of the Code and CIRP is hereby ordered to be initiated against the respondent Corporate Debtor, forthwith. 7. The applicant has not proposed the name of an IRP, therefore, this bench appoints Ms. Ashu Gupta, as the Insolvency Resolution Professional of the corporate debtor. The registration number of the IRP being IBBI/IPA-002/IP-N00339/2017-2018/10943 and email id. ashugupta.cs@gmail.com IRP above named is appointed subject to the condition that no disciplinary proceedings are pending against him. The specific consent is required to be filed in Form 2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 and disclosures be made as required under IBBI (insol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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