9911796707
TMI Blog2019 (10) TMI 1489X X X X Extracts X X X X X X X X Extracts X X X X ..... r"), a company within the meaning of section 2(20) of the Companies Act, 2013 and represented by its Assistant Manager (Legal), Shraddha Ashok Chavan, on the basis of a Board Resolution dated 14.11.2013 seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Salelink Ecom Private Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a private company limited by shares and incorporated on 18.06.2016 under the Companies Act, 2013, with the Registrar of Companies (RoC), Maharashtra, Mumbai. Its CIN is U74999MH2016PTC282578. Its registered office is at No.37, 3rd Floor, Plot No.115/117, Trinity Chambers, Bora Bazaar Street, Fort, Mumbai, Maharashtra 400 001. Therefore, this Bench has jurisdiction to deal with this pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice dated 08.05.2018 (Exhibit 'H', pp.57-64 of the Petition) to the Corporate Debtor under section 8 of the IBC. The same has also been received by the Corporate Debtor, as evidenced by the Postal Acknowledgement Card placed as Exhibit 'J' at p.66 of the Petition. However, there is no reply to the Demand Notice. 6. Invoices have been placed on record as Exhibit 'B' at pp.24-51. The invoices provide for interest in case of delayed payments, to be charged at the rate of 18% per annum. The total debt due and payable to the Operational Creditor is Rs. 7,22,579.25 (Rupees seven lakh twenty-two thousand five hundred and seventy-nine and paise twenty-five only), as mentioned at page 3 of the Petition. 7. The Corporate Debtor has also n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he exigencies of business. If we accept the argument of the Corporate Debtor, then the Corporate Debtor itself should be deemed to have violated the terms of the Agreement. 12. Further, the balance confirmation letter placed at Exhibit 'G' at p.56 of the petition contains the seal of the Corporate Debtor and a signature. At the very least, the Corporate Debtor could have submitted a reply denying that the balance confirmation letter was issued by the Corporate Debtor. There is not even a perfunctory denial in this regard. 13. The application made by the Operational Creditor is complete in all respects as required by law. It clearly shows that the Corporate Debtor is in default of a debt due and payable, and the default is in exces ..... X X X X Extracts X X X X X X X X Extracts X X X X
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