TaxTMI 
TaxTMI 
2018 (9) TMI 1227
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....s not to file any reply/objections to the application. The prayer is made in the application to place on record upto date Ledger Account statement (Annexure A15) along with complete synopsis of the case. Having heard learned counsel for the parties, the application is allowed and the documents be taken on record. CA No. 316/2018, therefore, stands disposed of. 2. This petition has been filed by M/s Weather Makers Pvt. Ltd. , a company incorporated under the Companies Act, 1956 as an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 ( for short to be referred hereinafter as the Code) to initiate insolvency resolution process against the corporate debtor. 3. The petitioner-company was incorporated on 05. 1....
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....011. Goods were supplied to the respondent by various invoices Annexure A5 (colly) from 19. 09. 2011 to 29. 08. 2012. The respondent had been making payment of the amount from time to time and the last payment to the tune of Rs.4 lacs was made on 21. 03. 2014 and the balance outstanding amount was Rs.73, 37, 732. 80 for which the details have been mentioned with the additional synopsis filed with CA No. 316/2018 as under:- Material supplied to Parabolic Drugs Ltd. Village Sudran (MP-3, DERA BASSI) Rs. 306164. 80 Material supplied to Parabolic Drugs Ltd. Village Sudran (STERILE PLANT, DERA BASSI) Rs. 2062327 Material supplied to Parabolic Drugs Ltd. Village Chharoli (LALRU PROJECT) Rs. 4969241 Total Rs. 73, 37, 732. 8....
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....Annexure A9). 9. Being an operational creditor, the petitioner was not required to propose the name of the Resolution Professional to be appointed as Interim Resolution Professional, yet in Part III of Form 5 the petitioner has proposed the name of Mr. Sanjay Kumar Aggarwal, having IBBI Regn. No. IBBI/IPA-002- IP-N00126/2017-18/10295 as the Interim Resolution Professional. The written communication by the proposed Interim Resolution Professional in Form 2 is also annexed at Annexure A11. He has certified that there are no disciplinary proceedings pending against him and he is currently appointed as Resolution Professional in one case. At page 156 of the paper book, there is certificate of registration issued by IBBI in favour of Mr. Sanj....
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....e demand notice in the prescribed form and thus fulfilling the requirement of sub-section (1) and (2) of Section 9 of the Code. Sub-section (3) of Section 9 of the Code reads as under:- "(3) The operational creditor shall, along with the application furnish- (a) a copy of the invoice demanding payment or demand notice delivered by the operational creditor to the corporate debtor; (b) an affidavit to the effect that there is no notice given by the corporate debtor relating to a dispute of the unpaid operational debt; (c) a copy of the certificate from the financial institutions maintaining accounts of the operational creditor confirming that there is no payment of an unpaid operational debt by the corpo....
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....ispute was never raised by the corporate debtor except the objection to this effect taken in the reply. It is also not disputed that reply to the demand notice was not sent. 16. The petitioner's version is further established from copy of the ledger account of the corporate debtor being regularly maintained. Copy of the ledger account was sent along with the demand notice Annexure A7. At page 145 of the paper book is the entry dated 21. 03. 2014 of the Ledger Account showing last payment received from the corporate debtor was to the tune of Rs.4 lacs. There are then the balance confirmation letters admittedly executed by the corporate debtor before the expiry of 3 years taken from 21. 03. 2014. The Ledger Account statement was initially ....