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TMI Blog2021 (10) TMI 490X X X X Extracts X X X X X X X X Extracts X X X X ..... s case and has also proved that there is absolutely no reason for the Corporate Debtor to hold on to the payment of the invoices. The Operational Creditor has also suggested the name of proposed Interim Resolution Professional along with his consent letter in Form-2. Hence this Bench is left with no option except to admit the above Company Petition, since the above Company Petition in hand satisfies all necessary legal ingredients for admission under Section 9 of the Code. Petition admitted - moratorium declared. - IA No. 1509/2021 In C.P. No. 934/IBC/MB/2020 - - - Dated:- 5-10-2021 - Hon ble Member (Judicial) : Mr. Ashok Kumar Borah And Hon ble Member (Technical) : Mr. Shyam Babu Gautam For the Operational Creditor : Mr. Anuj Solanki, Practicing Company Secretary, a/w Mr. Rajesh Agarwal, Advocate For the Corporate Debtor : Mr. Dinesh Dubey, Advocate ORDER Per :- Shyam Babu Gautam, Member Technical 1. This Company Petition is filed by Mr. Amit Sangal, Proprietor of M/s. Nitin Plastic (hereinafter called Operational Creditor ) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Prince MFG Industries Private Limited (herein ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Operational Creditor also sent physical copy of the Demand Notice to the Registered office of the Corporate Debtor Company dated 25.06.2020 which was successfully delivered. The Operational Creditor has annexed the courier receipt of the tracking report showing that the Notice was delivered to the Corporate Debtor. The Corporate Debtor did not file any Reply to the Demand Notice and no dispute was raised by the Corporate Debtor under section 5(6) of the Code. g. The Operational Creditor has uploaded all the data/information on the Information Utility (NeSL) on 20.06.2020 in Form C. The Operational Creditor received the record of Default/Debt/Authentication as submitted to and held by NeSL on 06.07.2020. h. The Operational Creditor has also submitted the ledger account of the Corporate Debtor in the books of the Operational Creditor which corroborates the amount claimed. 4. Submissions of the Corporate Debtor are as follows :- a. The Corporate Debtor has appeared on every hearings. The Corporate Debtor has neither replied to the Demand Notice sent to it u/s 8 of the Code nor has filed an Affidavit in reply to the present Petition. The matter was listed on various dates ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the Corporate Debtor to file its Reply within 2 weeks before the next date of hearing and the matter was listed on 10.12.2020. However, on 10.12.2020, in the name of settlement, the Corporate Debtor did not file its Reply. This act itself shows that the amount is due and payable to the Operational Creditor. 6. Further, on the very same day on 10.12.2020, the Corporate Debtor submitted that a post-dated cheque of ₹ 1.43 crores in the name of the Operational Creditor to show its bonafide towards the settlement. However, again on 21.01.2021 another advocate on behalf of the Corporate Debtor appeared and submitted that the Corporate Debtor had requested the Operational Creditor not to deposit the cheque because of financial difficulty of the Corporate Debtor and assured to make the full and final payment on 31.01.2021. This Tribunal had granted last opportunity to the Corporate Debtor to settle the matter or the bench would pass appropriate Orders in the next hearing. 7. Subsequently, the matter got adjourned due to poor connectivity and paucity of time. Further on 05.04.2021 another advocate appeared on behalf of the Corporate Debtor and submitted that the Corporate Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debtor. The Corporate Debtor further prayed to stay the present Company petition until the said IA 1509 of 2021 is decided. This bench clearly visualizes the tactic played on the part of the Corporate Debtor to delay the proceedings. The Corporate Debtor after a year of filing this Petition filed the present IA to dismiss the Petition and also after making the part payment. This shows a blatant behavior on the part of the Corporate Debtor to harass the Operational Creditor and leave him no where but to suffer irreparable mental agony. 12. The Operational Creditor has successfully demonstrated and proved the debt and default in this case and has also proved that there is absolutely no reason for the Corporate Debtor to hold on to the payment of the invoices. The Operational Creditor has also suggested the name of proposed Interim Resolution Professional along with his consent letter in Form-2. Hence this Bench is left with no option except to admit the above Company Petition, since the above Company Petition in hand satisfies all necessary legal ingredients for admission under Section 9 of the Code. 13. For the foregoing reasons, the above Company Petition is liable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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