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TMI Blog2021 (4) TMI 1117X X X X Extracts X X X X X X X X Extracts X X X X ..... of limitation. The application in Form 5 is complete; no payment of the unpaid operational debt of ₹ 69,39,639.20/- has been made and demand notice in Form No. 4 was duly served on the Corporate Debtor through registered post but no reply was received by the Operational Creditor. The Applicant has filed an affidavit under Section 9(3)(b) of the Code to the effect that there is no notice given by the Respondent relating to dispute of the unpaid operational debt - Application admitted - moratorium declared. - CP No. (IB)-239/9/JPR/2019 - - - Dated:- 23-3-2021 - Ajay Kumar Vatsavayi, Member (J) And Raghu Nayyar, Member (T) For the Appellant : Nikhil Yadav, Adv. For the Respondents : Ajay Kumar Atolia, CA ORDER R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... horised share capital of the Respondent is of ₹ 5,00,00,000/- (Rupees Five Crores Only) and the paid-up share capital is of ₹ 4,25,00,000/- (Rupees Four Crores Twenty Five Lakhs Only). 4. It is the case of the Applicant that the Applicant had supplied goods to the Respondent and raised various invoices from July 2016 to June 2019. Copies of various invoices of the said period are annexed as Exhibit-A of the Application. The Respondent failed to make payment for invoices raised by Applicant for an amount of ₹ 69,39,639.20/- (Sixty-Nine Lakh Thirty-Nine Thousand Six Hundred Thirty-Nine Rupees and Twenty Paisa Only). The first default had occurred on 14.09.2016 and continued. Thereby, the Applicant had issued a demand noti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n made or that there is any deficiency in goods supplied. At best these appear to be bald denials. 8. The registered office of the Respondent Corporate Debtor is situated in Jaipur and therefore this Adjudicating Authority has jurisdiction to entertain and try this Application. 9. The first default has occurred on 14.09.2016 which continued till 26.08.2019 and it is an admitted fact that the last payment was made 17.08.2019, hence the debt is not time barred and the Application is filed within the period of limitation. 10. In the given facts and circumstances, we find that the application in Form 5 is complete; no payment of the unpaid operational debt of ₹ 69,39,639.20/- has been made and demand notice in Form No. 4 was duly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s been received from the National Company Law Tribunal, New Delhi forwarding therewith a copy of letter No. IP-12011/1/2020-IBBI/978/1290 dated 31.12.2020 along with the guidelines and the panel of resolution professionals approved for NCLT, Jaipur Bench for appointment as IRP or Liquidator. The panel is valid for six months from 01.01.2021 to 30.06.2021. We select Ms. Garima Diggiwal, appearing at Serial No. 12 of the panel to be appointed as Interim Resolution Professional ('IRP'). 14. The credentials of the proposed IRP have been checked from IBBI website (www.ibbi.gov.in) and nothing adverse is found on record. In view of the same, this Adjudicating Authority appoints Ms. Garima Diggiwal with Registration No. IBBI/IPA-001/IP- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sit a sum of Rs, 2,00,000/- (Two Lakhs Only) to the account of IRP within three days from the date of this order. The IRP shall duly file a status report apprising this Adjudicating Authority about the progress of CIRP as unfolding in relation to the Corporate Debtor, In terms of Section 17 and 19 of the Code all personnel of the Corporate Debtor including promoters and Board of Directors, whose powers shall stand suspended, shall extend all cooperation to the IRP during her tenure as such and management of the affairs of the Corporate Debtor shall vest with the IRP. (iv) In terms of Section 9 of the Code, this order shall be communicated at the earliest, not exceeding one week from today, to the Applicant, Corporate Debtor as well as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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