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TMI Blog2022 (9) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... CIRP in the matter of REXSONA TILES PVT. LTD. VERSUS WAAMAN PRODUCTS PVT. LTD. [2022 (9) TMI 11 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCH] which is an Application under Section 9 of IBC, 2016. The Operational Creditor i.e. New Pearl Vitrified Pvt. Ltd. is, therefore, directed to approach the IRP appointed in the above-referred matter and take further steps for filing their claim - Matte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of Corporate Insolvency Resolution Process under the provisions of the Code. 3. The details of transactions leading to the filing of this petition as averred by the petitioner are as follows: a. The Operational creditor and the Corporate Debtor are engaged in the long term business relationship, wherein the Corporate Debtor used to purchase the vitrified tiles from the Operational Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s under Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 4. The Corporate Debtor has filed his reply against the said Application. The main objections raised by the corporate debtor are as follows: a. The Corporate Debtor stated that they are into the business of manufacturing and selling vitrified flooring tiles. b. The Corporate Debtor fur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. However, the said requested report was not received till date. d. The Corporate Debtor also stated in its reply that as regards the outstanding dues of Rs. 10,36,900/- they had already paid a sum of Rs. 3,85,100/- before the Additional Chief Judicial Magistrate Morbi in Gujarat in the complaint case no. 7477/2018 and the same was duly accepted by the Operational Creditor. e. The Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of IBC, 2016. 6. The Operational Creditor i.e. New Pearl Vitrified Pvt. Ltd. is, therefore, directed to approach the IRP appointed in the above-referred matter and take further steps for filing their claim. This Adjudicating Authority further grants liberty to the Operational Creditor for revival/restoration of the matter in IB/1048/PB/2020 if a settlement is arrived at and the CIRP is termina ..... X X X X Extracts X X X X X X X X Extracts X X X X
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