2018 (3) TMI 390

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rity) Rules, 2016 (for brevity 'the Rules') with a prayer for initiation of Corporate Insolvency process in respect of Respondent corporate debtor. 2. The applicant, M/s. Idemitsu Lube India Private Limited, is a company incorporated under the provisions of Companies Act, 1956 having its registered office at 603, 6th Floor, Eros Corporate Tower, Nehru Place, New Delhi-110019. 3. The Respondent M/s. AS Autotech Private Limited is a company incorporated under the Companies Act, 1956 having its registered office at 80/A, Radhe Puri Extension-1, Main Road, New Delhi-110019. Since the registered office of the respondent corporate debtor is in Delhi, this Tribunal having territorial jurisdiction over the place, is the Adjudicating A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of Rs. 6,98,405.76/- within a period of 10 days from receipt of said notice. The said notice was returned back unserved and thereafter another demand notice was served to the respondent through e-mail. 6. It is pertinent to state here that in view of Rule 5 of the Companies (Transfer of pending proceeding) Rules, 2016 and amended notification dated 29.06.2017 the applicant was required to comply with the requirements by 15th July, 2017 but failed to comply the same and consequently the case stood abated. However the notification dated 29.06.2017 issued by the Ministry of Corporate affairs permits filing of fresh petition. In the factual scenario the applicant applied for the withdrawal of the petition with liberty to file fresh one on t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ten days from the date of delivery of the notice or invoice demanding payment under sub-section (1) of section 8, if the operational creditor does not receive payment from the corporate debtor or notice of the dispute under sub-section (2) of section 8, the operational creditor may file an application before the Adjudicating Authority for initiating a corporate insolvency resolution process." (Emphasis given) 10. Section 9 of the Code mandates filing of application only after expiry of the period of 10 days from the date of delivery of notice issued under sub-section 1 of Section 8. Therefore, without a notice issued under Section 8 no application can be preferred under Section 9 of the Code. 11. The earlier demand notice issued by th....