TaxTMI 
TaxTMI 
TaxTMI 
2018 (6) TMI 731
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....). The petitioner is a proprietorship concern with Mr. Ramji Lal as the sole proprietor who claims himself to be the operational creditor and filed the application in Form 5 as prescribed in Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, the 'Rules'). 2. The respondent-corporate debtor was incorporated as a company on 26.03.2010 under Companies Act, 1956 having nominal share capital of Rs. 26,00,00,000/- and paid up share capital of Rs. 24,48,00,000/- and has been allotted CIN No.U17100HR2010PLC040298. The registered office of the corporate debtor is at Panchkula in the State of Haryana and, therefore, the matter falls within the territorial jurisdiction of this Tribunal....
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....ce in-Form 4 to the respondent-corporate debtor Annexure A-8 (colly) dated 08.12.2017 by registered post. Copy of the postal receipt is at Annexure A-8 and it was delivered to the corporate debtor on 13.12.2017 as per the tracking report which is part of the document at Annexure A-8. It is also stated that the petitioner sent all the invoices relating to the transactions between the parties and also the ledger account of the respondent being maintained by the petitioner. Copies of invoices for all the transactions sent to the respondent-corporate debtor are at page 51 to 65 of the Paper Book. It is contended that though the last transaction between the parties is dated 19.08.2013, the respondent acknowledged the balance outstanding amount w....
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....8 notice of the petition was issued to the respondent-corporate debtor. Mr. Rajiv Gupta, Advocate, learned counsel for the respondent-corporate debtor had put in his appearance and stated that the respondent does not intend to file reply/objections to the instant petition. 10. It was also noticed that the petitioner had not filed complete statement of bank accounts nor the certificate from the banks where the accounts are being maintained to the effect as to whether any payment has been received from the corporate debtor in the said account towards the unpaid operational debt. It was further observed that the petitioner has not filed copy of the ledger account up-to-date, and the document relating to the summary of the transactions. Notice....
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....tions of sales from 02.03.2011 to 09.08.2013. The total value is Rs. 6,71,816.93 and the respondent admitted the aforesaid outstanding amount acknowledging the unpaid debt in the document Annexure A-7 dated 16.03.2015 bearing signature of the respondent-corporate debtor having been appended on 21.03.2015. 14. Sub-section (5) of Section 9 reads as under:- (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 debt; (c) the invoice or n....
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.... of sales. The petitioner has also complied with the requirements of Section 9(3)(b) and 9(3)(c) of the Code. 16. As per sub-section (4) of Section 9 and Section 16 of the code it is optional for the operational creditor to propose the name of Resolution Professional to be appointed as the Interim Resolution Professional. In the instant case the petitioner has filed the written communication Annexure A-3 in Form No. 2 furnished by Mr. Vikas Garg, registered with Insolvency and Bankruptcy Board of India. His registration number is IBBI/IPA002/IP-N00189/2017-18/10506. The Resolution Professional has furnished all the required information giving his consent disclosing that he is not serving as Interim Resolution Professional, Resolution Profe....