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TMI Blog2019 (2) TMI 1883X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent requested not to initiate proceeding under Section 8 of the I B Code. Unpaid amount - HELD THAT:- The amount claimed by the petitioner represents the commission due to him for the services rendered by him in supplying and arranging for dispatch of the products manufactured by the Respondent - Therefore, the amount claimed is within the meaning of Operational Debt. Petitioner filed copies of invoices in proof of Operational Debt due to him. Petitioner also filed Ledger Extract. Moreover, respondent also admitted that Operational Debt remain unpaid. Therefore, the amount claimed is within the meaning of Operational Debt. Petitioner filed copies of invoices in proof of Operational Debt due to him. Petitioner also filed Ledger Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er case as commission to Sh. Vikas Tiwari. 4. Vikas Tiwari shall raise invoices in favour of M/s. Jain Manufacturing India Pvt. Ltd. and the Firm shall make the payment of the Commission Invoices within 30 days of the receipt of the invoices through Bank. 5. It is also agreed in case of late payment Vikas Tiwari is entitled for interest @ 15 % for the delay period. 6. According to the petitioner Vikas Tiwari an amount of ₹ 4,27,960/-(Rupees Four Lakhs Twenty Seven Thousands Nine Hundred Sixty) is due to him from the Respondent. Further according to the petitioner the date of default commenced from 01.04.2017 and the last date of invoices is 30.09.2018. 7. The particulars of the Operational Debt are as follows:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice dated 20.11.2018 stating that provided some reasonable time may be given for payment and he has unable to payment right now. Respondent requested not to initiate proceeding under Section 8 of the I B Code. 9. Petitioner alongwith this petition filed the copies of the Commission Bills copy of the agreement dated 01.08.2017 detailed statement of account from August, 2017 to September, 2018 and declaration dated 29.11.2018. 10. Petitioner also filed copy of the demand notice dated 22.10.2018 and reply notice issued by the respondent on 20.11.2018. Petitioner also filed affidavit in support of petition. 11. Petitioner proposed the name of the Insolvency Professional who is willing to function as IRP. Petitioner also filed Form 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gly admitted. 20. This Authority hereby appoint Mr. Manoj Kumar Singh, MARS Associates, Cost Accountant, 203, 2nd Floor, 10 Sikka Complex Community Centre, Preet Vihar New Delhi- 110092 Registration No. IBBI/IPA-003/IP-N00050/2017-18/10443, Email address: [email protected] Insolvency Professional to act as Interim Resolution Professional. 21. This Adjudicating Authority hereby order moratorium under Section 13(1)(a) of the I B Code prohibiting the following as referred to in section 14 of the Code: (a) The institution of suits or continuation of pending suits or proceedings against the company/corporate debtor including execution of any judgment, decree or order in any court of law, Tribunal, Arbitration Panel or other au ..... X X X X Extracts X X X X X X X X Extracts X X X X
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