2018 (5) TMI 1893

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....s of Section 9 of the Insolvency and Bankruptcy Code (hereinafter as Code). 2. In the requisite Form, under the Head "Particulars of Corporate Debtor" the description of the debtor is stated as, 'Dadi Impex Private Limited' (hereinafter as Debtor) having registered address at, 614, Laxmi Plaza, Laxmi Industrial Estate, Off Link Road, Andheri (W), Mumbai, Maharashtra - 400053. 3. Further under the Head "Particulars of Operational Debt" the total amount in default is stated as USD 880,331.22/- and further Interest amount of USD 99,086/-. Submissions by the Operational Creditor : 4. The Learned Advocate for the Operational Creditor has submitted that, the nature of the Debt is that, the Debtor has hired a vessel namely &#39....

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....e, this Petition/Application may be Admitted for the commencement of CIRP. Findings : 11. I have gone through the submissions and pleadings on record. On the basis of the evidences on record the Operational Creditor has established that, the Operational Creditor has rendered a service to the Debtor and raised valid invoice for the same. But the Debtor has failed to make the payment for the availed services. Considering these facts and circumstances, in my humble opinion the nature of the Debt is an 'Operational Debt' as defined under section 5 (21) of the Definitions under The Code and there is a "Default" as defined under section 3(12) of The Code on the part of the Debtor. 12. I have also perused the notice sent under Sec....

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....IRP. 16. During the hearing it also came to my notice that, there is another Application filed by another Operational Creditor namely, "New Venture Inc." against the same Debtor i.e. "M/s. Dadi Impex Private Limited" bearing No. CP No. 1734/IBC/NCLT/MB/MAH/2017. Hence, as this Petition;' Application is Admitted against the Debtor there cannot be subsequent event where the another petition/application be Admitted. Hence, it may not be out of place to mention that, the CP No. 1734/IBC/NCLT/MB/MAH/2017 is now Infructuous with a liberty to the Operational Creditor therein viz. "New Venture Inc." to file its claim before the aforesaid appointed IRP. 17. Having admitted the Petition/Application, the provisions of Moratorium as prescribe....