9911796707
TMI Blog2022 (8) TMI 930X X X X Extracts X X X X X X X X Extracts X X X X ..... r of Aakar Construction (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency Process (CIRP) against Omshri Devprocon Limited (for brevity 'Corporate Debtor'). 2. The applicant is proprietor of a firm having its office at 1, Dev Kutir Bunglow, Iscon Ambli Road, Ahmedabad 380 058, engaged in construction activities. 3. The corporate debtor is a limited company, incorporated under the provisions of Companies Act, 1956 on 06.06.2005 duly registered with Registrar of Companies, Ahmedabad, Gujarat State with CIN: U45200GJ2005PLC046194, having registered office at Dev House, Opp. Sankalp Restaurant, Near Rajpath Club, S.G. Highway, Ahmedabad 380 015, Gujarat State. The authorised share capital of the corporate debtor is R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de), pouring, levelling & finishing with material & labour for 1st, 2nd and 3rd Basement Trimix at Dev Aurum situated at Anandnagar Cross Road, Ahmedabad and raised invoice dated 13.04.2021 for Rs. 1,18,15,847.00 (Rupees one crore eighteen lakhs fifteen thousand eight hundred forty-seven only). As per work order dated 10.10.2020, in case of non-payment within the specified period of one month from the date of submitting invoice, the applicant is eligible to receive interest @ 12% per annum. 7. The applicant further states that on not receiving the outstanding debt from the corporate debtor, the applicant had sent email dated 18.09.2021 calling upon the corporate debtor to clear the outstanding debt which was replied by the corporate debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15,847/- and interest of Rs. 4,72,634/-payable by the corporate debtor @ 12% per annum as per the terms and conditions of the work order. 12. The default occurred on 13.05.2021 as the deadline for making the payment was maximum by 30 days after completion of the work. The application is filed on 02.11.2021, which is within limitation and not barred by law. 13. Registered office of the corporate debtor is situated in Ahmedabad, Gujarat State and, therefore, this Tribunal has jurisdiction to entertain and try this application. 14. In compliance of Section 9 (3) (b) of the IB Code the applicant has filed affidavit to the effect that there is no notice given by the corporate debtor relating to a dispute of the unpaid operational debt. 15. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Corporate Persons) Regulations, 2016, is filed which is on record. 18. We direct the Operational Creditor to deposit a sum of Rs.2.00 lacs (Rupees two lacs only) with the Interim Resolution Professional, namely Mr. Arpan Shah to meet the expenses to perform the functions assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within one week from the date of receipt of this order by the Operational Creditor. The amount, however, is subject to adjustment by the Committee of Creditors, as accounted for by Interim Resolution Professional, and shall be paid back to the Operational Creditor. 19. As a consequen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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