TaxTMI 
TaxTMI 
2018 (3) TMI 1812
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....pot Exchange Ltd., on 20.06.2018 u/s 60(5) of the IBC, 2016 seeking necessary direction to the Resolution Professional to admit the claim submitted by the Applicant herein. Brief facts of the Case: 2. The Applicant; National Spot Exchange Ltd. (NSEL), having its registered office at 6th Floor, Chintamani Plaza, Chakala, Andheri-Kurla Road, Andheri (E), Mumbai - 400 099, had set up as an electronic platform for spot trading in commodities and precious metals in accordance with the Rules and Bye-laws notified by the Applicant and under the regulatory purview and oversight of the Forward Markets Commission (FMC). The Applicant enrolled a Trading Member viz. P.D. Agro Processors Pvt. Ltd. (PDAgro), which is a sister concern of the Corpora....
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....ion Professional published Form-A seeking claims from its Creditors, the Applicant; NSEL submitted its claim in Form-F on 17.01.2018 to the Resolution Professional wherein it narrated the background of the case and emphasized that the Applicant is an indirect Creditor of the Debtor Company, thus, established the eligibility to submit the claim. After submission of the claim, the Applicant followed up with the Resolution Professional through various e-mails and telephone calls to know the status of it's claim. 5. However, in response to enquiries made by the Applicant, the Resolution Professional; Mr. Anil Kohli sent email on 02.06.2018 to the Applicant explaining the status of the Applicant's claim as on that date. The content/matter of ....
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....14th June, 2018, pursuant to an opportunity provided vide communication dated 4th June, 2018, to submit additional documents in support of your claim against Dunar Foods Ltd. & precise amount of claim in the case. We have been provided with the additional documents by you. We have considered your submissions & additional documents provided by you. From perusal of FORM-F and supporting documents submitted by NSEL, it is evident that the claim filed to the extent of Rs. 673.85 [sic] is claimed against P.D. Agro Processors Pvt. Ltd. Even the agreements annexed along with the claim i.e. dated 28.08.2012 and 11.20.2012 [sic] have been entered between NSEL and P.D. Agro Processors Pvt. Ltd. Dunar Foods Ltd., the Corporate Debtor is neith....
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....atements of the creditor showing non-satisfaction of claim and or an order of court that has adjudicated upon non-satisfaction of claim, if any. In the instant case, NSEL has failed to provide any supporting documents in order to establish existence of claim against the Corporate Debtor. NSEL has neither submitted any agreement between NSEL and the Corporate Debtor in order to demonstrate that NSEL is a creditor of the Corporate Debtor nor any letter/guarantee issued by Dunar Foods Ltd. in favour of NSEL guaranteeing payment towards the dues of P.D. Agro Processors Ltd. Hence, claims of NSEL cannot be admitted in view of above. Regards, Anil Kohli - Resolution Professional - Dunar Foods Ltd." Findings: 7. This Bench ....
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....he constitution of the committee. (2) The existence of debt due to the operational creditor under this Regulation may be proved on the basis of - (a) the records available with an information utility, if any; or (b) other relevant documents, including - (i) a contract for the supply of goods and services with corporate debtor; (ii) an invoice demanding payment for the goods and services supplied to the corporate debtor; (iii) an order of a court or tribunal that has adjudicated upon the non-payment of a debt, if any; or (iv) financial accounts. 7.1 On careful reading, it is necessary for a claimant to place on record that there was existence of debt due to the said Operationa....