TaxTMI 
TaxTMI 
2017 (11) TMI 1045
X X X X Extracts X X X X
X X X X Extracts X X X X
....he synopsis filed is as follows:- 2. The Debtor, it is averred had placed a purchase order dated 10.1.2012 towards Scrubbing Systems, Balance of Plant and Heat Recovery System for 1200 KWeMWM Gas Genset for a sum of Rs. 2,19,30,000/- subsequently amended vide letter dated 12.4.2012 by the Debtor bearing purchase order No. FMPL/2011-12 into two portions - one being supply of balance plant of value of Rs. 24,50,000/- to be supplied by the Creditor. It is further averred by the Creditor that in consonance with the purchase order dated 10.1.2012, supplies were duly effected and on instructions from the Debtor, invoices were raised aggregating to Rs. 43,97,218.20 and in relation to the said invoices a sum of Rs. 38,72,585/- on various dates c....
X X X X Extracts X X X X
X X X X Extracts X X X X
....g the liability on flimsy and false grounds and in the circumstances this Petition/application has been filed under Section 9 of IBC, 2016 as applicable to an Operational Creditor for initiating the Corporate Insolvency Resolution Process in relation to a Corporate Debtor. 4. Consequent to the filing of this Petition on 8.8.2017 by the Creditor, the same was listed before this Tribunal on 16.8.2017 on which date upon perusing the Petition and the documents annexed therewith, the Petitioner/Creditor was directed to produce banker's certificate, as mandated under the provisions of Section 9(3)(c) of IBC, 2016 within a period of 1week and also to file an affidavit of service in relation to the service of Application on the Corporate Debtor ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....maintaining accounts of the operational creditor confirming that there is no payment of an unpaid operational debt by the corporate debtor; and" Further section 9(5) of IBC, 2016 also enunciates the circumstances under which the Adjudicating Authority can admit a Petition or reject a Petition and the said section is reproduced below:- 9(5) The Adjudicating Authority shall, within fourteen days of the receipt of the application under sub-section (2), by an order- (i) Admit the application and communicate such decision to the operational creditor and the corporate debtor if,- (a) the application made under sub-section (2) is complete; (b) there is no repayment of the unpaid operational deb....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ny other compliance. However, it is represented on behalf of the Petitioner that Banker's Certificate is not able to be produced. Thus only course this Tribunal can adopt in view of the above provision of IBC, 2016 and also as held by the Hon'ble NCLAT in the Judgment rendered in the case of Smart Timing Steel Ltd. v. National Steel Agro Industries Ltd. in Company Appeal (AT) (Insolvency) No. 28/2017 to the effect that failure to abide by the statutory mandate would result in rejection of the Application as filed by the Petitioner/Creditor by virtue of provision 9(5) of IBC, 2016, as reproduced above. Hence, this Tribunal is constrained to reject the Application on the said ground alone. Even otherwise, it is seen from the typed set of docu....