9911796707
TMI Blog2021 (6) TMI 112X X X X Extracts X X X X X X X X Extracts X X X X ..... corporate debtor - On perusal of the record it is also found that the instant petition filed by the applicant is well within limitation and there is no denial of the operational debt or any pre-existing dispute regarding the operational debt from the side of the corporate debtor. In the instant application, from the material placed on record by the Applicant, this Authority is satisfied that the application is complete in all respect and the Corporate Debtor committed default in paying the operational debt due and payable to the Applicant - The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt'. The p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve only) towards supply of goods made during the period from 31.07.2018 to 16.06.2019 which has fallen due after 60 days of the respective invoices as per the purchase orders. 3. In support of its claim, the applicant has annexed to the application copy of the documents like; copy of unpaid tax invoices, working for computation of default amount in tabular form, copy of ledger in the books of operational creditor, copy of GST returns, copy of bank statement, copy of demand notice, copy of authority letter by partner etc. 4. The applicant has stated that despite repeated reminders the respondent has not paid the outstanding operational debt, therefore, the applicant was compelled to issue demand notice under Section 8 of the I B Code ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l debt due and payable to the Applicant. 10. The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt'. 11. It has been observed in Mobilox Innovative Private Limited vs. Kirusa Software Private Limited [2017] 1 IBJ (JP) 2 SC that while examining an application under Section 9 of the Act, will have to determine the following:- (i) Whether there is an operational debt as defined exceeding ₹ 1.00 lac (See Section 4 of the Act) (ii) Whether the documentary evidence furnished with the application shows that the aforesaid debt is due and payable and has not yet been paid? and (iii) W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Code. Subsection (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Insolvency Resolution Professional. This Adjudicating Authority direct the Interim Resolution Professional to make public announcement of initiation of Corporate Insolvency Process and call for submission of claims under Section 15 as required by Section 13(1)(b) of the Code. 14. From the above stated discussion and on the basis of material available on record it is evident that the corporate debtor has committed default in payment of operational debt and, therefore, it is a fit case to initiate Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code. 15. The petition is, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 as the case may be. 18. The applicant/operational creditor has not proposed name of the Interim Resolution Professional. This Adjudicating Authority hereby appoint Mr. Nandish Sunilbhai Vin, C-53, Shanti Niketan Row House, Anand Mahal Road, Opp. Sagar Complex, Besides Sneh Sankul Wadi, Surat 395009 having registration NO. IBBI/IPA-001/IP-P02117/2020-2021/13270 ([email protected]) to act as an interim resolution professional under Section 13(1)(c) of the Code. 19. This Petition is accordingly admitted. 20. Communicate a copy of this order to the applicant, Corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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