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TMI Blog2019 (11) TMI 771X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. That, the instant application is filed by Mr. Hardik Hasmukhlal Thakore, Assistant Manager Accounts Administration of applicant/operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 [hereinafter referred to as the Code ] read with Rule 6 of the Insolvency Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to trigger Insolvency Resolution Process against M/s. Shilpraj Developers Private Limited (hereinafter called as respondent/corporate debtor). 2. That, the applicant/operational creditor M/s. Nuvoco Vistas Corporation Limited is a limited company having identification number U26940MH1999PLC118229, having its registered office at Equinox Business Park, Kurla (West), Mumbai 400 070. 3. That, the respondent/corporate debtor M/s. Shilpraj Developers Private Limited is a company incorporated under the Companies Act, 1956 on 04.11.1988 and having its registered office at 60, Adarsh Society, Athwalines, Surat 395 007, Gujarat State, having Identification No. U45201GJ1988PTC0114920K. That, authorised share capital of the corporate debtor is ₹ 1,00,00,000/- and paid-up share capital is ₹ 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 62-67 09 Proof of services and proof of delivery of demand notice dated 8th September, 2017 68-70 10 e-mail correspondence with corporate debtor 71-73 11 Letter dated 11.01.2017 issued by operational creditor to corporate debtor 74 12 Certificate of incorporation pursuant to change of name 75 13 Affidavit in support of application 76 6. Corporate Debtor filed affidavit in reply raising various objections with regard to the demand notice and power of attorney. It is stated that the demand notice issued by the petitioner has never been received by the respondent. That, acknowledgement does not bear the signature of any of the respondent s office bearers or of the respondent. The resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the petitioner could not be made and the claim made by the petitioner is quite insignificant compared to other financial and operational creditors. Findings: 9. Heard both the sides and perused the documents submitted by both the sides. 10. On perusal of the records it is found that the first objection raised by the respondent is that the respondent has not received the demand notice issued by the petitioner. On perusal of the records it is found that the petitioner has produced acknowledgement receipt of the delivery of the demand notice. On one hand, the petitioner has produced certificate from the postal department showing the receipt of the demand notice by the respondent. On the other hand, claim made by the respondent that the notice has not been received by him is not supported by any cogent evidence. 11. In the reply, respondent itself has admitted that the amount due to the applicant is ₹ 7,68,974/- only, as shown in the balance confirmation placed at Page No. 74 to the petition which itself shows that there is some amount due to the petitioner. 12. As regards the objection relating to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rity is of the considered view that operational debt is due to the Applicant. That, Applicant is an Operational Creditor within the meaning of sub-section (5) of Section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default and service is complete. 16. That, the Application filed by the Applicant is complete in all respects. 17. The applicant/operational creditor has not proposed the name of Interim Resolution Professional. This Adjudicating Authority hereby appoint Shri Sunil Kumar Agarwal, Tower 6/603 Devnandan Heights, Near Poddar School, New C.G.Road Chandkheda, Ahmedabad 382424 ([email protected]) having Registration No. IBBI/IPA- 001/IP-P01390/2018-19/12178 to act as an interim resolution professional under Section 13(l)(c) of the Code. 18. Section 13 of the Code enjoins upon the Adjudicating Authority to exercise its discretion to pass an order to declare a moratorium for the purposes referred to in Section 14, to cause a public announcement of the initiation of corporate insolvency resolution and call for submission of claims as provided ..... X X X X Extracts X X X X X X X X Extracts X X X X
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