9911796707
TMI Blog2022 (6) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent company, claimed to be the corporate debtor. 2. The applicant, Arun Kumar Mittal has filed the present application claiming as the operational creditor with the prayer for initiation of Corporate Insolvency Resolution Process under the provisions of the Code. 3. The details of transactions leading to the filing of this petition as averred by the petitioner are as follows: a. The Operational creditor used to supply PVC stabilizer, calcium stearate and other allied products to the Corporate Debtor. b. The Operational Creditor submitted that the last payment was made on 11.06.2019 for Rs. 50,000/- by the Corporate Debtor. As per the books of the accounts of the Operational Creditor, principal sum of Rs. 17,85,396/- (excluding inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intainable as the present application is not complying with the provisions of Section 9(3)(b) of the IBC, 2016 5. The operational creditor has filed the rejoinder wherein, reiterating the contents of the Applicant and submitted following contentions:- a) The demand notice was duly served via speed post to Saraswati Vihar SO on 04.01.2020 at 16:06:19. b) The affidavit u/s. 9(3)(c) of IBC is present stating that the Applicant had requested the Bank to comply with the said compliance and has attached the statement of bank account where deposits are made or credits received normally by the Operational Creditor in respect of debt of the Corporate Debtor along with the Application. c) Operational Creditor submits that the date of default i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petition. 6. We have heard Ld. Counsel for both the parties and perused the averments made in the application, reply and rejoinder filed by the parties. In the instant Application before examining the said application on merits, it is necessary to examine whether the said petition is maintainable in terms of Section 4 of the IBC, 2016. As the Applicant is claiming Rs. 17,85,396/- from the Corporate Debtor and the same has been filed before this Tribunal on 17.08.2020. In this regard, the reference can be made to the Judgment of Hon'ble NCLAT in the matter of Jumbo Paper Products V. Hansraj Agrofresh Pvt. Ltd. (Company Appeal (AT) (Ins) No. 813 of 2021) wherein it was held that the any statute/law can be applied retrospectively onl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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