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TMI Blog2022 (11) TMI 505X X X X Extracts X X X X X X X X Extracts X X X X ..... h Mr. Dimple Shah, partner of M/s. Aries Paper Company (for brevity 'Applicant') authorised vide authorisation letter dated 04.04.2022, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP) against Saurashtra Specialities Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a partnership firm registered on 18.10.2016 having registered office at 303, Nakshatrea II, 150 ft. Ring Road, Opp. K.K.V. Hall, Rajkot 360 005, Gujarat State. The applicant is engaged in the business supply of Kraft Papers. 3. The corporate debtor is a private limited company, incorporated under the provisions of Companies Act, 2013 on 19.07.2001 duly registered with Registrar of Companies, Ahmedabad, Gujarat Sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mand notice in Form 4 dated 12.04.2022 under Rule 5 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Section 8 of the Insolvency & Bankruptcy Code, 2016 which was duly served on the corporate debtor. The applicant has submitted copy of track consignment of Postal Department evidencing that the demand notice was delivered on 18.04.2022 at the registered address available at MCA portal. The corporate debtor has not replied to the demand notice. 6. Thereafter, the instant application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by the applicant on 27.06.2022. 7. The corporate debtor filed affidavit in reply stating that: * The applicant has failed to produce the deliver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the delivery challans for the said invoices. Without delivery challan there is no documentary evidence that the said goods have actually been delivered to the corporate debtor. On perusal of the record it is seen that the applicant has annexed to the application copy of 73 distinct invoices which pertains to different transactions between the applicant and the corporate debtor. All the invoices invariably bear seal and signature of the corporate debtor with date on which the goods were delivered. Thus, it is clear that the goods shown in each invoice were delivered at the factory site of the corporate debtor. (b) Second objection raised by the corporate debtor is that the default in repayment of each invoice is different subject matte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egistration No. IBBI/IPA-002/IP-N002124/2017-18/10666 and having email ID [email protected] subject to the condition that no disciplinary proceedings are pending against him. Specific consent of the IRP in Form 2, along with disclosures as required under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 is filed, which is on record. 14. 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. Ashish 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 sha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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