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TMI Blog2019 (2) TMI 1833X X X X Extracts X X X X X X X X Extracts X X X X ..... 23.05.2018 passed by Micro and Small Enterprises Facilitation Council. The Operational Creditor also filed postal receipts evidencing the dispatch of demand notice. The Operational Creditor also filed copy of Bank Account statement (State Bank of India) Thus, Operational Creditor filed documentary proof in support of the claim and also placed evidence that Corporate Debtor committed default. Therefore, petition is liable to be admitted. The Adjudicating Authority is satisfied that the Corporate Debtor failed to discharge its liability mentioned in the Petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), resulting occurrence of default for an amount of ₹ 32,02,543/-. Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 29.04.2015 RM 035 2015-16 ₹ 9,75,375/- 2 25.06.2015 RM 091 2015-16 ₹ 11,70,450/- 3 15.09.2015 RM 151 2015-16 ₹ 13,87,200/- 4 07.11.2015 RM 215 2015-16 ₹ 13,87,200/- C. It is averred that the total amount of purchase orders was ₹ 49,20,225/- for the supply of magnesium Nitrate, with payment conditions as 75 days. It is averred that the operational creditor had supplied magnesium Nitrate as demanded by the corporate debtor's specif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 300 3,51,135 12 20.12.2015 335 3,51,135 E. It is averred that when the demand was made by the operational creditor and in turn the corporate debtor paid part amount of ₹ 1,13,732/- for the materials supplied. The total outstanding balance is ₹ 32,02,543/- being the principle amount for the material supplied to the corporate debtor. F. It is averred that despite demands made by the operational creditor for clearing the dues the corporate debtor approached the Micro and Small Enterprises Facilitation Council ,Konkan for a claim under section of the MSME Act, 2016 on 13.05.2016. The council Registered the claim and hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d documentary proof in support of the claim and also placed evidence that Corporate Debtor committed default. Therefore, petition is liable to be admitted. 6. The Operational Creditor proposes the name of Mr. Ram Murthy Kommera, as Interim Resolution Professional. The proposed IRP has given written consent in Form-2 vide memo. He has also certified there are no disciplinary proceedings pending against him either with the Board or ICSI. He has enclosed certificate of Registration. 7. The Adjudicating Authority is satisfied that the Corporate Debtor failed to discharge its liability mentioned in the Petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), resulting occurrence of defau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Corporate Insolvency Resolution Process or until this Bench approves the Resolution Plan under Sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, whichever is earlier. (e) That the Public announcement of Corporate Insolvency Resolution Process shall be made immediately as specified under section 13 of the code. (f) That this Bench hereby appoints Mr. Ram Murthy Kommera, having registration number IBBI/IPA-002/IPN00595/2017-18/11776 residing at Plot No.143, H.No.8-19, Metro City Mega Township, Bongulooru, Post Village: MP Patelguda, Ibrahim, Hyderabad as Interim Resolution Professional to carry the functions as mentioned under the Insolvency Bankruptcy Code. Accordingly, this Pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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