9911796707
TMI Blog2019 (10) TMI 499X X X X Extracts X X X X X X X X Extracts X X X X ..... mercial Tax Officer as per letter dated 18.08.2017 - application disposed off. - CP(IB) No. 254/(BB/2018 - - - Dated:- 13-6-2019 - SHI RAJESWARA RAO VITTANALA, MEMBER (JUDICIAL) AND DR. ASHOK KUMAR MISHRA, MEMBER (TECHNICAL) The The Petitioner : Ms. Jasleen kaur For The Respondent : Ms. Sunita Srinivas ORDER Per : Rajeswara Rao Vittanala, Member (J) 1. C.P(IB).No.254/BB/2018 is filed by M/s. Arjun Chemicals Pvt. Ltd, (Petitioner) under Section 9 of the IBC, 2016 R/w Rule 6 of the I B (AAA) Rules, 2016 by inter alia seeking to initiate the Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Mysore Paper Mills Private Limited, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der Nos. 0497-13/FMT/PCZ 1449-14/FMT/PCS being, ₹ 55,000/- ₹ 1,80,000/- respectively were not refunded by the Corporate Debtor on completion of the supply. (5) Further, due to non-issuance of C-forms by the Corporate Debtor for the total invoices value of ₹ 1,10,93,531/- for FY 2015-16, an additional penalty was imposed on the Operational Creditor by Sales Tax authorities to the tune of ₹ 3,32,806/-. (6) An interest of ₹ 1,89,429/- is calculated @18% per annum on overdue payments from the date of completion of tender. Thus, the total amount due from the Corporate Debtor is ₹ 14,17,235/- as on the date of notice. Hence, a debit note dated 22.11.2016 was issued to the Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion to a dispute of the unpaid Operational Debt. 3. Learned Counsel for Respondent has filed an Objection dated 13.06.2019, by inter alia contending as follows: 1) The Operational Creditor has made a claim against Government Company which was established on 20.05.1936 pursuant to the Section 103(2) of the Mysore Companies Regulation, 1917 and has numerous employees employed and cannot be wound up to satisfy the whims of one unsecured creditor. 2) It is stated the amount claimed by the Operational Creditor as the amount due to it is factually incorrect. The Operational Creditor herein has claimed ₹ 14,17,235/-as the total debt amount from the Respondent/Corporate Debtor. That the contents of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted by the Respondent. In this connection, the learned Counsel for Petitioner has filed a copy of the Commercial Tax Office letter dated 18.08.2017, as per given Revenue Abstract detailed as under: Sl. No. Details Year Turnover Tax Due 1. Purchase Suppression 2011-12 2199137 109957 2012-13 9330021 466501 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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