TMI Blog2022 (11) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... Meet Pansuriya , Advocate ORDER 1. This application is filed under Section 9 of Insolvency and Bankruptcy Code, 2016 (for brevity 'IBC, 2016') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') through Mr. Dimple Shah, partner of M/s. Aries Paper Company (for brevity 'Applicant') authorised vide authorisation letter dated 04.04.2022, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP) against Saurashtra Specialities Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a partnership firm registered on 18.10.2016 having registered office at 303, Nakshatrea II, 150 ft. Ring Road, Op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oices on different dates between 22.02.2018 and 30.04.2022, as per the details annexed to the application. 5. It is further submitted by the applicant that on not receiving the outstanding despite sending numerous reminders through e-mail, telephonically and orally, the applicant was constrained to issue demand notice in Form 4 dated 12.04.2022 under Rule 5 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Section 8 of the Insolvency Bankruptcy Code, 2016 which was duly served on the corporate debtor. The applicant has submitted copy of track consignment of Postal Department evidencing that the demand notice was delivered on 18.04.2022 at the registered address available at MCA portal. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tuated in Rajkot, Gujarat State and, therefore, this Tribunal has jurisdiction to entertain and try this application. 11. Heard submissions and perused the documents on record. The arguments of both sides are dealt with as under: (a) The first objection raised by the corporate debtor is that the applicant has failed to produce the delivery challans for the said invoices. Without delivery challan there is no documentary evidence that the said goods have actually been delivered to the corporate debtor. On perusal of the record it is seen that the applicant has annexed to the application copy of 73 distinct invoices which pertains to different transactions between the applicant and the corporate debtor. All the invoices invariably ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and payable and default has occurred. The present application is admitted, in terms of section 9(5) of IBC, 2016. 13. The applicant has proposed Mr. Ashish Shah as the Interim Resolution Professional (IRP). Therefore, we hereby appoint Mr. Ashish Shah having address at 402, Shaival Plaza, Near Gujarat College, Ellisbridge, Ahmedabad 380 006 with registration No. IBBI/IPA-002/IP-N002124/2017-18/10666 and having email ID ashish@ravices.com subject to the condition that no disciplinary proceedings are pending against him. Specific consent of the IRP in Form 2, along with disclosures as required under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 is filed, which is on record. 14. We direct the Operational ..... X X X X Extracts X X X X X X X X Extracts X X X X
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