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TMI Blog2022 (1) TMI 160X X X X Extracts X X X X X X X X Extracts X X X X ..... d "Corporate Debtor") alleging that Corporate Debtor committed default in making payment to the extent of Rs.76,04,050/- with interest at the rate of 12 % till the date of actual realization by invoking the provisions of Sections 8 & 9 of I & B Code (hereinafter called "Code") read with Rule 6 of Insolvency & Bankruptcy (AAA) Rules, 2016. 2. Petitioner is a proprietary firm engaged in the business of providing transport services. Corporate debtor is engaged in the business of providing logistical support. Corporate debtor started its engagement with the Petitioner buy seeking transportation services from and to various parts of India. Upon providing the services, Petitioner raised invoices from time to time. 3. The Counsel for the Applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver issued by them and therefore the invoices are falsely raised on them. 7. The Corporate Debtor filed detail affidavit in reply of Mr. Arvind Gangoly, Director & Authorized Signatory of Corporate Debtor opposing the above Company Petition on the following grounds :- i. The Petition is not maintainable as it is not filed by a person recognized by the Insolvency and Bankruptcy Code, 2016 - The Petition is filed in the name of a sole proprietary concern i.e. S. M. Ghoghai which is admittedly a proprietary firm. A sole proprietary firm is under the Insolvency and Bankruptcy Code is not recognized to be a person capable of maintaining petition. Hench, the Petition on this ground is not maintainable and is liable to be dismissed. ii. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny Petition was filed on 03.09.2019. Upon thorough verification from Tribunal records and inward stamp appearing on Company Petition it reveals that the above petition was filed on 24.10.2019 and the above referred two invoices admitted to have been within limitation by the Corporate Debtor were also barred by limitation. 12. From the perusal of the above invoices this Bench has no hesitation in holding that the above Company Petition is hopelessly barred by the limitation. Since the above Company Petition is dismissed on the ground of limitation, this Bench feels that there is no necessity to make any observations or give findings on the other pleas raised by the Corporate Debtor in their reply. 13. Accordingly, the above Company Petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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