9911796707
TMI Blog2017 (12) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... fleet management and administration service to its clients in relation to vehicles. In furtherance of its business, it is averred by the above said company, hereafter referred to as the Applicant Company/Operational Creditor, entered into a transaction arrangement of lease agreement bearing No.ND 10686 dated 1.4.2011 with the Corporate Debtor and that two vehicles bearing registration No.DL3CBE4174 and DL7CF9339 which were originally given to one of the group companies of the Corporate Debtor was leased out to the Corporate Debtor by virtue of the execution of lease agreement dated 1.4.2011. It is also averred that the vehicles as above were taken on lease on the basis of months/distance whichever is covered earlier and the rental lease fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder dated 14.2.2017, liberty was granted to the Operational Creditor namely the Applicant herein to initiate action under as per the provisions of Insolvency and Bankruptcy Code, 2016 (IBC, 2016) as against the Corporate Debtor in compliance of the same. 3. Pursuant to the said order dated 31.5.2017 it is averred by the Applicant that notice of demand under Section 8 of IBC, 2016 was issued to the Corporate Debtor under the hand of its legal counsel dated 31.5.2017 demanding a sum of Rs. 17,26,667/- as the amount due and in default. It is represented that in relation to the said notice, no reply has been received from the Corporate Debtor nor any payment made towards the amount claimed and in default, from the Corporate Debtor and in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is found as on 16.2017. It is also further seen that the tracking report of the consignment is issued by India Post which discloses against the date of 1.6.2017 as follows: "Item delivery attempted. Unclaimed." 6. In relation to certificate of bankers, it is seen that as against the certificate only statement of accounts as maintained with the HSBC Bank in three volumes have been filed under Dy. No. 497 dated 27.7.2017 even though it has been wrongly represented before this Tribunal on 28.7.2017 that banker's certificate has been filed vide Dy. No. 241 dated 11.7.2017. Perusal of the record shows that Dy. No. 241 relates to filing of the Petition and not banker's certificate as records clearly discloses that no banker's certificate is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Debtor' all of which precludes the 'Corporate Debtor' to reply or appear before this Tribunal and under such circumstances it has been held by the Hon'ble Appellate Tribunal to be not in consonance with the principles of natural justice. In addition to the above, non-compliance of the provisions of Section 9(3)(c) on the part of the Applicant is also fatal to the maintainability of the application under IBC, 2016 by an Operational Creditor as held by the Hon'ble NCLAT in the case of Smart Timing Steel Ltd. v. National Steel and Agro Industries Ltd. in Company Appeal (AT) (Insolvency) No. 28/2017. 8. Taking into consideration the facts and circumstances and the decisions of the Hon'ble NCLAT in the judgments quoted above, this Tribunal is c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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