9911796707
TMI Blog2017 (11) TMI 840X X X X Extracts X X X X X X X X Extracts X X X X ..... 17, which cannot be termed as compliance of sub-sec. (3)(c) of Section 9 of the Code. In addition to the relevant bank account, the Code requires a certificate from the financial institution maintaining account of the operational creditor confirming that there is no payment of an unpaid operational debt by the corporate debtor. Despite opportunity afforded, admittedly the applicant has failed to file the requisite certificate as mandatorily required under Section 9(3 )(c) of the Code. The word “shall” used in sub-section (3) of Section 9 of the Code shows mandatory requirement, which includes inter alia clause C of sub section 3. Therefore, on a bare perusal of the above-mentioned provision it is clear that furnishing of certificate from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid ₹ 44,68,000/- till date. 3. It is further submitted that the Respondent Company vide letter dated 09.10.2014 has admitted that they owe the Applicant Company ₹ 30,14,000/- as pending payments for the services provided. Since the Respondent Company did not make any payments despite several reminders and legal notices, the Applicant Company was constrained to issue a statutory notice for winding up on 10.08.2015 and in pursuance of the same, a winding up petition was filed before the Hon ble Delhi High Court. 4. Upon the said winding up petition bearing Co. Pet. No. 165/2016 being transferred to the Principal Bench of NCLT, the Applicant Company prayed that the same may be dismissed as withdrawn with liberty to file a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.05.2017, in the matter of J K Jute Mills Co. Ltd. v. Surendra Trading Company, has held that time is the essence of the Code and that in case the applicant fails to remove the defects within 7 days as provided under the proviso, the application is liable to be rejected. 8. In the present case time was afforded to the applicant on 25.09.2017, for removal of the aforesaid defect. The applicant has filed certified copy of bank statement of the applicant company from 1.4.2017 to 27.9.2017, which cannot be termed as compliance of sub-sec. (3)(c) of Section 9 of the Code. In addition to the relevant bank account, the Code requires a certificate from the financial institution maintaining account of the operational creditor confirming that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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