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TMI Blog2018 (4) TMI 1890X X X X Extracts X X X X X X X X Extracts X X X X ..... hrough its duly authorised signatory and has complied with the mandatory requirements under the Code including issuance of a demand notice to which no reply was given. The copies of the invoices have also been annexed - On being served the Corporate Debtor put in its appearance through their advocate and made a categorical statement that they admit the outstanding liability but are unable to repay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BC (herein after referred to as Code ) praying for initiation of Corporate Insolvency Resolution Process of the Corporate Debtor for its inability to liquidate its financial debts. 2. As per averments, the Operational Creditor had supplied goods from time to time to the Corporate Debtor under various purchase orders. The Operational Creditor maintained a running account and submits that a sum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of a demand notice to which no reply was given. The copies of the invoices have also been annexed. 4. On being served the Corporate Debtor put in its appearance through their advocate and made a categorical statement that they admit the outstanding liability but are unable to repay the same. The demand notice under Section 8 was also issued prior to the filing of the present petition and no d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n respect Of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. Further:- (2) The supply of essential goods or services to the corporate debtor as may be specif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... name of the IRP at this stage as it is within the discretion of the Operational Creditor to propose the name of the IRP, although it should have been done in the initial stage itself. This Bench therefore confirms the appointment of Shri Navneet Kumar Jain as the IRP in this case. He is directed to take all such further steps that is required under the statute most specifically being under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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