TaxTMI 
TaxTMI 
2017 (11) TMI 1579
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....or brevity 'the Rules') with a prayer for initiation of Corporate Insolvency Resolution Process in respect of respondent corporate debtor. 2. The applicant M/S K.G. Marketing is a proprietary firm having its registered office at 7, Building, 292, Lokmanya Tilak Marg, Mumbai- 400002. Mrs. Kanchan Goverdhan Vaswani, the proprietor of the applicant M/S K.G. Marketing proprietorship firm, through power of attorney dated 08.02.2017 has appointed, constituted and nominated her husband Mr. Goverdhan Nanikram Vaswani as her true and lawful attorney to do and execute all or any of act mentioned therein for and on behalf the proprietorship firm. The present application has been filed by the aforesaid attorney holder and authorised signatory of the....
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....st 'C' Forms to be furnished by the Company separately against each of the Invoices and accordingly induced the Operational Creditor to charge CST at concessional rate @ 2% instead of the usual 12.5% against Form 'C to be furnished separately by the Company and the Corporate Debtor is liable to pay CST at 12.5% to the Operational Creditor. Corporate Debtor is also liable to pay interest @ 21% p.a. on the unpaid Invoice amounts after considering a credit period of 30 days from the Invoices dates. 6. It is stated that the corporate debtor has committed defaults on the different dates on which material were supplied by the Operational Creditor to the Corporate Debtor in due course of business and the said default is consistence since 22.11.....
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.... by an Advocate, the application can be rejected on that count alone. 9. It is also relevant to note that under Section 6 of the Code where any corporate debtor commits a default an operational creditor inter alia can initiate corporate insolvency resolution process in respect of such corporate debtor. The applicant therefore is bound to prove existence of default by Respondent Corporate Debtor and the burden of proof lies on him. It is pertinent to refer here that Column No. 8 of part-V of Form No. 5 of Rule 6 of the Rules provides for furnishing the relevant contract and other documents to establish that operational debt has become due and amount is in default by the corporate debtor. In fact headnote of part-V clearly indicates the re....
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....respondent-company as [email protected]. However, the correspondences through e-mails relied upon by the applicant have not been made in the registered e-mail of the respondent-company. 13. In the facts though the burden of proof lies on the applicant, the applicant has miserably failed to establish the existence of operational debt as well commission of default by the respondent-company. It is pertinent to state here that the legal notice dated 22nd November, 2016 issued by the applicant, inter alia, reveals that the respondent vide e-mail dated 16th September, 2016 disputed and denied the claim of the applicant. The said e-mail dated 16th September, 2016 has not been enclosed. It is further seen at Annexure-J that the respondent-....