TMI Blog2022 (8) TMI 1056X X X X Extracts X X X X X X X X Extracts X X X X ..... @ 18% per annum. It is observed that the Operational Creditor has issued various invoices (Annexure 3) for goods supplied to the Corporate Debtor. Operational Creditor has given demand notice in Form-3 dated 23.11.2019, duly served on the Respondent. This Adjudicating Authority has held above that the Operational Creditor correctly delivered the demand notice in Form No.3, and no pre-existing dispute is proved. It has been shown that the Corporate Debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice to date. It is also observed that the conditions under Section 9 of the Code stand satisfied. Hence, this Adjudicating Authority is inclined to commence CIRP against the Corporate Debtor as envisaged under the provisions of IBC, 2016. Petition admitted - moratorium declared. - CP No. (IB) 326/9/JPR/2019 - - - Dated:- 29-7-2022 - SHRI DEEP CHANDRA JOSHI , HON BLE JUDICIAL MEMBER And SHRI PRASANTA KUMAR MOHANTY , HON BLE TECHNICAL MEMBER For the Applicant : Prabhansh Sharma, Adv. For the Respondent : None-appeared ORDER Per : Shri Deep Chandra Joshi, Judicial Member 1. This Application has been filed unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent for the other invoices amounting to total debt of Rs. 1,61,930/- (Rupees One Lakh Sixty-One Thousand Nine Hundred and Thirty Only). Copy of part-payment made is annexed at Page 248 of the Application. 6. The Applicant further submits that excluding the aforesaid part-payments made by the Respondent, a sum of Rs. 2,47,456/- (Rupees Two Lakh Forty-Seven Thousand Four Hundred and Fifty-Six Only) including interest @ 18% per annum is charged on outstanding invoices. Copy of the same is annexed in Annexure 2 of the Application. 7. Applicant issued and served a Demand Notice dated 23.11.2019 to the Respondent under Section 8 of the Code as per Form 3 as prescribed under Rule 5 of the Rules at its registered office demanding a sum of Rs. 2,47,456/- (Rupees Two Lakh Forty-Seven Thousand Four Hundred and Fifty-Six Only) with interest @18% per annum on the invoices. The Respondent neither paid the outstanding debt nor raised a dispute regarding the outstanding debt till the filing of the present petition. The demand notice was accompanied by computation of interest, details of invoices, and relevant dates of default. Copy of Demand Notice dated 23.11.2019 and postal receipt dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ectively. It is clear from aforementioned communication that there is no dispute between the parties regarding the quality, quantity or services provided by the Operational Creditor. 13. This Adjudicating Authority has perused all the relevant papers and found them in Order. The registered office of the Respondent is situated in Jaipur; therefore, this Adjudicating Authority has jurisdiction to entertain and try this Application. The matter is within the purview of the Law of Limitation, as the debt fell due on 16.12.2016, and the Application was filed on 11.12.2019. Therefore, the present Application has been filed within the period of limitation. 14. The first issue for consideration is whether the demand notice in Form No.3 dated 23.11.2019 was served upon the Respondent. The demand notice was sent via a registered post on 23.11.2019 to the corporate debtor and its directors. The postal receipt is attached on Page 198 (Annexure 5) of the Application. 15. The next issue for consideration is whether the Respondent disputed the operational debt. The Respondent has not filed a reply in this regard. However, considering communication on record between the parties, there is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted under the Code read with Rules made thereunder. The Applicant shall provide a copy of the Application, if not provided already, along with this Order to IBBI for its records. 21. The IRP is directed to take all such steps as are required under the statute, inter-alia in terms of Sections 15, 17, 18, 19, 20, and 21 of the Code, and transact proceedings with utmost dedication, honesty and strictly under the provisions of the Code, and Rules and Regulations thereunder. 22. Consequences of commencement of CIRP shall be inter-alia as follows: (i) The IRP appointed by the Adjudicating Authority, Mr. Sudhir Bhansali, is directed to take over the affairs of the Corporate Debtor and duties as required to be performed by him under the provisions of the Code, including the issue of a publication in widely circulated Newspapers as contemplated under the provisions of the Code and calling for claims from the creditors of the Corporate Debtor; and collation of the same shall be done. (ii) Further, as a sequel of admission, a moratorium, as envisaged under Section 14 of the Code, is invoked concerning the Corporate Debtor, which will be in vogue during the CIRP of the Corporate De ..... X X X X Extracts X X X X X X X X Extracts X X X X
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