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TMI Blog2017 (10) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... d. No defect in the application has been found or pointed out and there is compliance of the mandatory requirements of Section 9 (3) (b) and (c) of the Code. The petitioner has delivered the invoices for payment to the Corporate Debtor. The petitioner has even filed a copy of the statement of the bank of account i.e. its financial institution HDFC maintaining the account of the petitioner. The petitioner has also proposed the name of the Insolvency Resolution Process Mr.Adesh Kumar Singla, who has given the written communication in Form 2 giving all the necessary particulars. That communication is found to be in order.In view of the above, the petition deserves to be admitted. - CP (IB) No.68/Chd/Pb/2017 - - - Dated:- 20-9-2017 - MR. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The facts of the case, briefly stated, are that the petitioner company supplied product WR Coil J403_2009 1008 P1 06.50 MM M S ROUND IN COIL vide different invoices ranging from 28.12.2016 to 23.01.2017. The first supply was made on 28.12.2016 vide invoice No.1629 and last supply vide invoice No.1763, dated 23.01.2017. There was a running account of the Respondent/Corporate Debtor maintained in the books of account of the petitioner and the ledger account has been filed with effect from January, 2013 onwards, in which the entries of the amount being deposited by the respondent from time to time are also made. The total outstanding amount due towards the principal is ₹43,91,983/- in respect of invoices No.1629, 1630, 1632, 164 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the same was delivered to the Corporate Debtor. 7. Notice of this petition was issued to the Respondent/Corporate Debtor, which is being represented by Mr.Jatin Singal, Practicing Company Secretary, who filed his authority letter from the Company along with the resolution of the Board of Directors dated 06.09.2017 in his favour. Fresh synopsis of the case was directed to be filed, the compliance of which has been made by the petitioner. 8. I have heard the Practicing Company Secretaries on behalf of both the parties and perused the record carefully. 9. Mr. Jatin Singal, the Authorised Representative of the Respondent/Corporate Debtor submits that the corporate debtor does not want to file any response/objection to the insta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pt of the application under sub-section (2) by an order- (i) admit the application and communicate such decision to the operational creditor and the corporate debtor if, - (a) the application made under sub-section (2) is complete; (b) there is no repayment of the unpaid operational debt; (c) the invoice or notice for payment to the corporate debtor has been delivered by the operational creditor; (d) no notice of dispute has been received by the operational creditor or there is no record of dispute in the information utility; and (e) there is no disciplinary proceeding pending against any resolution professional proposed under sub-section (4), if any. (ii) reject the application and communicate such ..... X X X X Extracts X X X X X X X X Extracts X X X X
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