TaxTMI 
TaxTMI 
2018 (5) TMI 1760
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....h Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for the purpose of initiating Corporate Insolvency Resolution Process for an outstanding Operational Debt of Rs. 26,66,302/- against the Corporate Debtor M/s. Tiger Steel Engineering (India) Pvt. Ltd.,4th Floor, Building No. 5, sector - 3, Millennium Business Park, Mahape Navi Mumbai - 400710, Maharashtra. 2. Brief particulars of the claim is as under:- 2.1. The Petitioner/Operational Creditor is engaged in the business of rendering services for clearing and forwarding agents for clearance of Import Shipment at various ports whereas the Corporate Debtor is engaged in the business of manufacturing Pre- Engineered Metal Building solutions and underta....
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....emails in addition to personal contacts, requesting the Corporate Debtor to clear the outstanding Debt. The Petitioner has further stated that the Corporate Debtor made certain part payments and advances against the Order placed with Invoices raised by the Operational Creditor. After adjusting and appropriating the said part payments made from time to time, the impugned amount of Rs. 26,66,302/- still remained due and payable. 2.5. Thereafter, the Operational Creditor held personal meetings with the Corporate Debtor on various occasions. In one of such meeting held on or about last week of September, 2017, it was assured by the Corporate Debtor that a sum of Rs. 4-5 lacs would be remitted during the course of the week. Despite the assuranc....
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....ed a Demand Notice dated 22.11.2017, calling upon the Corporate Debtor to make payment of the outstanding Debt amount of Rs. 26,66,302/- within 7 days from the date of receipt of the said Notice. This Notice was further followed up by another Legal Notice dated 05.01.2018 through the Legal Representative of the Petitioner by Registered Post which was stated to be received by the Corporate Debtor on 08.01.2018. However, the Debtor did not respond to both the Notices. 4. Certified copy of the Bank Account statement from 01-11-2017 to 26-12-2017 from Bank of Baroda dated 28-12-2017 showing the payments received from the Corporate Debtor and that the Debt amount was not received, is also available on record. 5. The Petitioner served Notices a....