TMI Blog2018 (3) TMI 1930X X X X Extracts X X X X X X X X Extracts X X X X ..... .2017 in form No.3 demanding payment of outstanding amount within 10 days from the date of receipt of notice. However, the Corporate Debtor failed to pay the amount due. Further the Bankers of Operational Creditor viz. M/s Kotak Mahindra Bank HDFC Bank, New Delhi vide their certificates dated 30.10.2017 and 06.11.2017 respectively have certified that they have not vencived the amount from the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of Aster Building Solutions Private Ltd. (Respondent / Corporate Debtor). 2. Brief facts, leading to filing of the present Company Petition, are as follows:- (a) M/s Harindera Cargo Carriers Pvt. Ltd (Petitioner / Operational Creditor) is a private limited Company registe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s with consignment Note with an endorsement that material has been received. (e) As per the standard terms of payment, the Operational creditor grants 15 days credit but however keeping the longstanding relations with the Corporate Debtor, the Operational Creditor gave 90 days time. However, the Corporate Debtor did not pay the amount towards few invoices raised during the financial year 2016-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en the Corporate Debtor failed to make payments, the Operational Creditor filed this company petition, seeking to initiate CIRP against the Corporate Debtor. 3. The case was listed before the Adjudicating Authority on 08.02.2018, 26.02.2018, 15.03.2018 and 23.03.2018. 4. Heard Ms. Siri Preethi Duggirala, Advocate along with Ms. A. Sandhya Rani, Learned Counsel for the Petitioner. 5. The C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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