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TMI Blog2021 (9) TMI 1194X X X X Extracts X X X X X X X X Extracts X X X X ..... ata which was duly delivered to the corporate debtor as it dint bounce back. The service affidavits have been duly filed. Considering that notice was sent at the registered address of the company as reflected on the MCA website and the same was returned with the remark Addressee left without instructions , shall be considered served, because the same can be manipulated by the corporate debtor - The service of Section 9 is complete. Moreover, the email service is complete. The corporate debtor in spite of service did not appear, neither any reply filed. Hence, the corporate debtor has been proceeded ex-parte vide order dated 19.01.2020 of the Hon'ble Bench, NCLT. As per Form V, the total debt outstanding is ₹ 4,66,285/-, which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ankruptcy Code, 2016 (for brevity 'code') read with Rules 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), 2016 (for brevity 'the Rules') by Mr. Anil Sharma being the proprietor of M/s. Lakshmi Steels (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency process against M/s. Aaradhyam Developers Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a proprietor, running business under the name and style of M/s. Lakshmi Steels, which is proprietorship concern, having its place of business at 126, Loha Mandi, B.S. Road, Industrial Are, Ghaziabad and Uttar Pradesh - 201009, being an authorized dealer of various T.M.T structural Steel engaged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... honored and returned with the remark insufficient balance. The copy of cheque along with bank memo is annexed. 5. It is submitted by the applicant that since the time of receipt of goods supplied the corporate debtor raised no dispute with regards the quality and specifications of the goods and has also utilized the said goods for business. Furthermore, no dispute has been raised with regards the unpaid balance principal amount of ₹ 4,01,970/- to be paid to applicant. However, in spite of repeated requests and communication the corporate debtor failed to pay the admitted outstanding dues. 6. The corporate debtor served a demand notice under Section 8 Form 3 of Insolvency and Bankruptcy (Application to the Adjudicating Authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the company as reflected on the MCA website and the same was returned with the remark Addressee left without instructions , shall be considered served, because the same can be manipulated by the corporate debtor, as observed by the Hon'ble Apex Court in case of: Madan And Co. V. Wazir Jaivir Chand 1989 SCC 264. The extracts from the said order is reproduced herein: We are of opinion that the conclusion arrived at by the courts below is correct and should be upheld. It is true that the proviso to (i) of section 11(1) and the proviso to section 12(3) are intended for the protection of the tenant. Nevertheless it will be easy to see that too strict and literal a compliance of their language would be impractical and unworka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... him. If he is compelled to be away for some time, all that he has to do is to leave necessary instructions with the postal authorities either to detain the letters addressed to him for some time until he returns or to forward them to the address where he has gone or to deliver them to some other person authorised by him. In this situation, we have to choose the more reasonable, effective, equitable and practical interpretation and that would be to read the words served as sent by post , correctly and properly addressed to the tenant, and the word receipt as the tender of the letter by the postal peon at the address mentioned in the letter. No other interpretation, we think, will fit the situation as it is simply not possible for a lan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led to claim its dues, establishing the default in payment of the operational debt. Moreover, the contentions of the applicant have remained uncontroverted and undisputed by the corporate debtor proving the debt becoming due. Hence, the application is admitted. 12. The applicant has not proposed the name of IRP, therefore, this Bench appoints, Ms. Archana Singhal having email id: [email protected] registration no. IBBI/IPA-001/IP-P02036/2020-21/13116 as the Interim Resolution Professional, subject to the condition that no disciplinary proceedings are pending against him. The IRP is required to file consent Form-2 of the Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule 2016 and make disclosures a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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