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TMI Blog2019 (9) TMI 1661X X X X Extracts X X X X X X X X Extracts X X X X ..... n of Section 8(1) of Insolvency and Bankruptcy Code, 2016, an operational creditor on occurrence of a default is required to deliver a demand notice to which the corporate debtor is required to respond within a period of 10 days from the date of receipt of such notice. As per provision of Sec.9 (5)(ii) clause (c) Insolvency and Bankruptcy Code, 2016 the Tribunal will reject the application if t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... solvency Bankruptcy Code, 2016 by the operational creditor, viz., Quippo Infrastructure Limited for initiation corporate insolvency resolution process against the corporate debtor, viz., M.R. Nirman Private Limited. The amount of default has been claimed at Rs.43,00,510/- which comprises of Rs.19,50,000/- (principal amount) and Rs.23,50,510/- (interest) thereon. 2. The facts, in brief, are th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received in March 2016, hence, limitation to be counted from that date. Accordingly, the petition was well within the limitation. 4. Ld. Counsel also pleaded that in May 2016, winding up petition under the provisions of Companies Act, 2013 was also filed and that too was well within limitation. As regards the delivery of notice under Sec.8 Insolvency Bankruptcy Code, 2016, she drew our atten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Sec.8(1) of Insolvency and Bankruptcy Code, 2016, an operational creditor on occurrence of a default is required to deliver a demand notice to which the corporate debtor is required to respond within a period of 10 days from the date of receipt of such notice. 8. As per provision of Sec.9 (5)(ii) clause (c) Insolvency and Bankruptcy Code, 2016 the Tribunal will reject the application if the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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