2019 (4) TMI 1357

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....ri (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency process against Adharshila Country Homes Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a broker having a vast experience and connection in the field real estate, and is having its residence at House No. A-53, Rajeev Nagar, Phase I, Delhi-11008 3. The Corporate Debtor is a private limited company, company limited by shares, incorporated under the provisions of Companies Act, 1956 on 03.12.2012 bearing CIN U70102DL2012PTC245588 as per master data. 4. The Authorised Share Capital of the Corporate Debtor is Rs. 10,00,000/- and Paid Up Share Capital is Rs. 1,00,000/- as per Master Data of the company and is having its registered offic....

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....pes with respect to clear the outstanding dues. Thereafter, the operational creditor issued legal notice dated 06.09.2018 demanding the outstanding dues. 8. The Corporate Debtor has replied to the said legal notice vide letter dated 14.09.2018 and has admitted its liability to pay a sum of Rs. 3,39,750/- which remains to be an outstanding amount and has further stated that because of the financial stress and slowdown in the market, the company could not pay off the dues to the operational creditor. 9. The Operational Creditor has issued a demand notice dated 11.10.2018 under section 8 of the Insolvency and Bankruptcy Code, 2016 to the Corporate Debtor to pay the unpaid operational debt at the registered office of corporate debtor whic....

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....me barred and the application is filed within the period of limitation. 17. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. In the light of above facts and records, the present application is admitted. 18. The Applicant has named the Interim Resolution Professional (IRP), to be appointed by the order of Tribunal, as Mr. Sanjay Sahni having registration number IBBI/IPA-001/IP-P00341/2017-18/10642, (emailcasanjaysahni@ gmail.com), duly registered with Insolvency and Bankruptcy Board of India, as the Interim Resolution Professional subject....