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TMI Blog2022 (5) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... e") for initiation of Corporate Insolvency Resolution Process (hereinafter referred to as "CIRP") against the Corporate Debtor, namely NPS Power Solutions Private Limited 2. In support of its claim, the operational creditor has placed on record copies of invoices which were raised for supplying of various kinds of batteries beginning from 27.03.2015 till 08.05.2015. The last payment of Rs. 25,000/- was made by the corporate debtor on 15.10.2018 and the amount of Rs. 1,29,42,045/- remains to be due and payable. In spite of requests the amount due was not paid, hence, the operational creditor sent a demand notice dated 07.05.2019 which was duly received by the corporate debtor but the same was not replied by the corporate debtor. Affidavits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 6. The learned counsel for the corporate debtor submits that there exist several disputes with respect to the goods provided by the corporate debtor and the payments of the transactions have been made to the operational creditor and there exist no debt and default on behalf of the corporate debtor. Findings & Conclusion 7. We have considered the submissions made on behalf of the operational creditor and material on record. 8. It is seen from the records that notice of default under Section 8 has been delivered and affidavit under Section 9(3)(b) of IBC has also been filed. The last payment was made on 15th October, 2018 and this application has been filed on 23.07.2019, the application is found well within the limitation in terms of p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement of the CIRP shall be made immediately as specified under section 13 of the Code read with regulation 6 of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. e. Mr. Rajeev Kumar [Reg. No. IBBI/IPA-002/IP-N00850/2019-2020/12803], having address at 20/145 Indira Nagar, Lucknow, Uttar Pradesh, 226016 [email: [email protected]], to act as the IRP under Section 13(1)(c) of the Code is hereby appointed as Interim Resolution Professional (IRP) of the Corporate Debtor to carry out the functions as per the Code subject to submission of a valid Authorisation of Assignment in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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