2017 (11) TMI 924

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.... Corporate Insolvency Resolution Process against appellant, Zapp India Ltd. (corporate debtor). The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench by impugned order dated 20th July, 2017 passed in IB No. (IB)-170(ND)/2017 having admitted the application, declaring moratorium and calling for name of Interim Resolution Professional. The present appeal has been preferred by the appellant-corporate debtor against the said order. 2. One of the ground taken by the appellant - corporate debtor is that the Adjudicating Authority before admitting the application under section 9 had not issued any notice to the appellant - corporate debtor and impugned order dated 20th July, 2017 was passed in violation of rules of natural....

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....r and only such person can apply. 31. The demand notice/invoice Demanding Payment under the I & B Code is required to be issued in Form-3 or Form-4. Through the said formats, the 'Corporate Debtor' is to be informed of particulars of 'Operational Debt', with a demand of payment, with clear understanding that the 'Operational Debt' (in default) required to pay the debt, as claimed, unconditionally within ten days from the date of receipt of letter failing which the 'Operational Creditor' will initiate a Corporate Insolvency Process in respect of 'Corporate Debtor', as apparent from last paragraph No. 6 of notice contained in Form-3, and quoted above. Only if such notice in Form-3 is s....