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TMI Blog2018 (5) TMI 1760X X X X Extracts X X X X X X X X Extracts X X X X ..... the completion of Insolvency Resolution process. - NO. CP. (IB)-146/MB/2018 - - - Dated:- 18-5-2018 - Shri M.K. Shrawat, Member (Judicial) For the Petitioner(s): 1.Mr. Nikhil Rajani, Advocate i/b M/s. V. Deshpande Co. ORDER Per M.K. Shrawat, Member (Judicial). 1. A Petition was filed on Form No.5 on 25.01.2018 by the Petitioner/Operational Creditor M/s. Batliboi Impex Limited, Registered Office at Bharat House , 5th Floor, 104, 8.5 MARG, Mumbai 400001 invoking the provisions of Section 9 of the Insolvency Bankruptcy Code, 2016, read with Rule 6 of the Insolvency Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for the purpose of initiating Corporate Insolvency Resolution Process for an outstanding O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and raised Invoices towards its Agency charges and reimbursement of Costs, Charges and Expenses incurred in the process of clearing the said import shipment. 2.3. The Operational Creditor alleged that between 06.05.2016 to 18.07.2017, around 29 Invoices were raised as per the Petition for a total Debt amount of ₹ 88,22,135/, however, an amount of ₹ 26,66,302/- is still outstanding for payment since 23rd November 2017. 2.4. In respect of the claim of outstanding Debt, now under consideration, the Operational Creditor stated that he had issued several reminders and emails in addition to personal contacts, requesting the Corporate Debtor to clear the outstanding Debt. The Petitioner has further stated that the Corporate Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,97,799/- remained due and payable in respect of the invoices raised, issued and delivered upon the Corporate Debtor by the Operational Creditor. Further, the Petitioner stated that it was clarified to the Debtor that the difference of ₹ 1,53,705/- was due to 'detention charges' to the satisfaction of the Debtors. 2.7. Thereafter, the Operational Creditor claimed that despite reconciliation of the account, admission and acknowledgment by the Corporate Debtor, the Corporate Debtor failed to make payment of the impugned Debt amount of ₹ 26,66,302/-. 3. Aggrieved, the Petitioner/Creditor issued a Demand Notice dated 22.11.2017, calling upon the Corporate Debtor to make payment of the outstanding Debt amount of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2016-17/10145, Address: Plot No.107, Survey NO.62/65, Mahatma Society, Bhusari Colony, Kothrud, Pune 411038, Email: [email protected]. The so appointed IRP has furnished the requisite Certificate on Form No.2 that no Disciplinary Proceeding is pending. On due consideration, the Proposal of appointment is hereby confirmed. 7.1. Upon Admission of the Application and Declaration of Moratorium the Insolvency Process such as Public Announcement etc. shall be made immediately as prescribed under section 13 read with section 15 of The Code. The appointed IRP shall perform the duties as an Interim Resolution professional as defined under section 18 of The Code and inform the progress of the Resolution plan and the compliance of the direc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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