9911796707
TMI Blog2018 (12) TMI 740X X X X Extracts X X X X X X X X Extracts X X X X ..... ) ORDER PER : S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) 1. Under consideration is an application filed under Section 9 of the I B Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (The Rules) M/s. KCL Limited (The Operational Creditor) against M/s. NUI Pulp Paper Private Limited (The Corporate Debtor), having its registered office at Surror Chenakkal, Calicut University P.O., Calicut University, Kerala-673635. 2. The amount claimed by the petitioner against the corporate debtor is ₹ 23,91,847/- including a sum of ₹ 2,41,53/- towards interest on the total due amount calculated as on 30.06.2018. 3. The operational creditor is engaged in the business of manufacturing plywood pallets, corrugated boxes, paper cartons and different types of packing boxes, etc,. 4. The Corporate debtor approached the Operational Creditor and expressed interest in purchasing carton boxes and establishing business relationship with the Operational Creditor. The operational creditor accepted the purchase orders and supplied the ordered goods on a credit basis. As per the purchase orders the operational c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1,43,640.00 06-10-2017 07-10-2017 04-01-2018 11 710271 6410 1,79,480.00 10-10-2017 10-10-2017 08-01-2018 12 710283 6710 1,87,880.00 14-10-2017 14-10-2017 12-01-2018 13 710290 7680 2,15,040.00 20-10-2017 20-10-2017 18-01-2018 14 710305 1070 29,960.00 27-10-2017 27-10-2017 25-01-2018 15 710306 2032 56,896.00 27-10-2017 27-10-2017 25-01-2018 16 710307 4768 1,33,504.00 27-10-2017 27-10-2017 25-01-2018 17 710336 6380 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the goods shown were supplied by the Operational Creditor herein, the Corporate Debtor has asked for replacement of the entire goods supplied when by their own admissions only a few were allegedly damaged. 8. The Operational Creditor cannot identify or confirm the origin of the cartons depicted in the picture that was sent since they lack proper identification and the goods could have belonged to any supplier of the Corporate Debtor and there is no proof that the goods which are shown were in fact supplied by the Operational creditor. 9. The Operational Creditor has further stated that, they have systems in place to ensure proper quality checks before supply and use utmost care for packing the goods when in transit. The Operational Creditor has always made sure to supply superior quality goods and has always ensured that their customers are satisfied. 10. On non-receipt of the payment towards the various invoices raised by the Operational Creditor, the Operational Creditor sent reminders to the Corporate Debtor over mail and even through the telephone. The Operational Creditor then sought a reply from the Corporate Debtor via the following modes. By way of a legal notice d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the demand notice or copy of the invoice mentioned in sub-section (1) bring to the notice of the operational creditor- (a) Existence of a dispute, (if any, or) record of the pendency of the suit or arbitration proceedings filed before the receipt of such notice or invoice in relation to such dispute; In this case, the corporate debtor has not raised any objections or disputed the quality of the goods supplied by the operational creditor anytime before the demand notice was issued by the operational creditor or even the reply was not sent within 10 days period in terms of section 8 of the IBC, 2016. In view, of the above this Tribunal is of the view that the there exists no pre-existing dispute between the corporate debtor and the operational creditor. Therefore the instant Petition is admitted and we order the commencement of the Corporate Insolvency Resolution Process which shall ordinarily get completed within 180 days, reckoning from the day this order is passed. Since the petitioner has not recommended any name for IRP, we appoint Mr. Subbarayan Nachimuthu as IRP from the list provided by the IBBI dated 28.06.2018. The IRP is directed to submit his consent i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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