9911796707
TMI Blog2020 (10) TMI 683X X X X Extracts X X X X X X X X Extracts X X X X ..... l March 2019 - However, no settlement could be materialised. Hence, the debt is well established due to undisputed amount of ₹ 21.00 Lakhs and the default of payment has been occurred. Hence, the CIRP can be triggered in respect of the Corporate Debtor Company. The present I.B. Petition is filed under Section 9 of the code by an authorised signatory Mr. Anuj Saraf (Partner) found to be filed within limitation and is complete for the purpose of initiation of Corporate Insolvency Resolution Process (C.I.R.P.) in respect of the Corporate Company - Petition admitted - moratorium declared. - C. P. (I.B.) No. 241/9/NCLT/AHM/2018 - - - Dated:- 19-2-2020 - Harihar Prakash Chaturvedi, Member (J) and Prasanta Kumar Mohanty, Member (T) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r-Company is having nominal share capital of ₹ 8,50,00,000/-(Rupees Eight Crore Fifty Lakh only) and the paid-up share capital of the company is ₹ 7,95,37,000/- (Rupees Seven Crore Ninety-Five Lakh Thirty-Seven Thousand only). 4. It is the case of the Petitioner that the Corporate Debtor approached and placed various orders for sale and supply of paper tubes of various sizes. The Petitioner/Operational Creditor, on the basis of placed purchase orders of the Respondent, had supplied the required quantity from time to time. It is stated that the Petitioner generated invoices for each supply and copies of the same are annexed with the present petition as Annexure-1. 5. It is stated that, in spite of the receipt of the invoice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent sent a notice to him through its company secretary, Mr. Rajeev Ranjan on 13.03.2018 (copy annexed) stating that the Respondent/Corporate Debtor raised an advance complaint through email dated 06.07.2017 and 02.10.2017 for supplying poor quality of goods/materials supplied and thereby the Respondent had to face a big loss in the business. 11. Thus, it is stated by the Petitioner that the Respondent had through the complaint emails had tried to create a dispute for the quality of materials supplied. It is averred that the Respondent did not even take a follow up for making settlement of the said complaint(s). However, it is submitted that the complaints were replied by the Petitioner by a letter to the Respondent/Corporate Debtor on 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aterial for LDPE (Low Density Poly-Ethylene). The LDPE is rolled around the defective paper tubes and therefore, the core of the paper tube used to get lapsed. 16. The Respondent further quoted its emails describing the complaints for poor quality of papers supplied which caused 1260 Kgs. of LDPE was wasted (Annexure R-3 and R-6). 17. It is averred that these quoted emails were sent prior to sending any demand notice and he has tried to establish a pre-existing dispute between the parties. 18. The Respondent/Corporate Debtor, in Sub - III, Para 10(III) has stated that it had sent a settlement proposal to the Petitioner on date 05.07.2018 on account of filing of application under Section 9 of the I.B. Code. It made a plea that his c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... standing due is ₹ 21.00 Lakh and is requested to be paid till March 2019. However, no settlement could be materialised. Hence, the debt is well established due to undisputed amount of ₹ 21.00 Lakhs and the default of payment has been occurred. Hence, the CIRP can be triggered in respect of the Corporate Debtor Company. 23. By considering the above given facts of the present case, it is found that the present I.B. Petition is filed under Section 9 of the code by an authorised signatory Mr. Anuj Saraf (Partner) found to be filed within limitation and is complete for the purpose of initiation of Corporate Insolvency Resolution Process (C.I.R.P.) in respect of the Corporate Company. Hence, it deserves for admission. 24. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e effect from the date of such order till the compilation of the corporate insolvency resolution process. 26. The Petitioner/Operational Creditor has suggested name of Insolvency Professional, Mr. Kailash T. Shah and the proposed Insolvency Professional has also confirmed by his letter (annexure-8) has expressed his willingness to appear in the matter further stating that there are no disqualification(s) or any disciplinary proceedings pending against him. 27. Hence, this Adjudicating Authority hereby appoints Mr. Kailash T. Shah, having Insolvency Professional Registration No. IBBI/IPA-001/IP-P00267/2016-17/10511, Email ID [email protected], as an Interim-Resolution-Professional. The Interim-Resolution-Professional is further d ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
