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TMI Blog2018 (3) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... btor'. It is pertinent to mention that 'Operational Creditor' is a registered partnership firm duly registered in terms of the Indian Partnership Act, 1932 and it is based at Old Anaj Mandi, Julana (Jind), Haryana-126101. It has two partners, namely, Mr. Raj Kumar and Mr. Kailash Chand. The petitioner firm is engaged in the business of Commission Agent and Merchants. 2. Ms. Kailash Chand, one of the partner of the petitioner's firm has been authorized by letter dated 15.05.2017 (at page No. 9) to sign and submit the petition. 3. The Operational Debtor 'Ram Dev International Limited' was incorporated on 5.4.2004 under the Companies Act, 1956. Its identification number is U15312DL2004PLC125613. Its authorized share capital is 5,00,00,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... housand Eight hundred and thirteen and paisa seventy five only). The petitioner raised invoices as and when paddy was supplied. The Petitioner also maintains Books of Account in respect of the transactions undertaken with the Respondent Company. The Petitioner continued to supply paddy, in good faith, whenever the demand was made by the Respondent Company. But the Respondent Company did not pay the amount regularly, which led to accumulation of huge unpaid amounts. 6. It is also asserted by the petitioner that the Respondent Company had an outstanding amount of Rs. 50,36,880/- towards the Petitioner in the year 2014-15. During the said year, the Respondent Company paid an amount of Rs. 14,75,556/- and thereafter on different occasions it c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent Company as well as to the Directors of the Respondent Company. However, the Legal Notices were returned with remarks 'Left', 'Left the House without RTS', 'House locked', and another with the remark that "The Mill is closed and the Gate is locked". The Petitioner firm again sent the Legal Notice dated 10.07.2016 on 20.07.2016 by registered post to both the Directors of the Respondent Company. However, the Legal Notices were again returned with remarks 'Not Delivered'. 9. After transfer of the present petition before this Tribunal in partial fulfilment of the requirement of Section 8 of the Code read with Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 a demand notice demanding payment in re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dy) and has also paid to the seller the amounts due, has been placed on record. 13. We have heard learned counsel for the petitioner and have perused the pleadings along with various affidavits with her able assistance. According to the learned counsel service is complete and there is resistance controverting the claim of the petitioner in respect of unpaid debt. It thereafter must be considered to have been admitted. We find substance in the submission. As per the invoices issued by the Operational Creditor with regard to supply of paddy to the Operational Debtor it is proved beyond doubt that 'goods' in terms of Section 5(21) of the Code were procured by the Operational Debtor from the Operational Creditor on various occasions. It is pat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... failed to name anyone as Interim Resolution Professional and has requested us to appoint one for the Corporate Insolvency Resolution Process. 16. The Insolvency and Bankruptcy Board of India (IBBI) vide its letter dated 01.01.2018 has recommended a panel of Insolvency Professionals for appointment as Insolvency Resolution Professional in compliance with Section 16(3)(a) of the Code in order to avoid delay. The list of recommended Insolvency Professionals provides instant solution to NCLT-Adjudicating Authority to pick up the name and make appointment. It helps in meeting the time line given in the Code and the unnecessary time wasted firstly in asking the Insolvency and Bankruptcy Board of India to recommend the name and then to appoint su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor." 19. It is made clear that the provisions of moratorium shall not apply to transactions which might be notified by the Central Government or to the supply of the essential goods or services to the Operational Debtor which may be specified. Such supply is not to be terminated or suspended or interrupted during the moratorium period. 20. The Interim Resolution Professional shall perform all his functions religiously and strictly which are contemplated, inter alia, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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