2018 (12) TMI 1709

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....e, 2016 (for brevity 'the Rules') with a prayer for initiation of Corporate Insolvency process in respect of Respondent corporate debtor. 2. The Respondent Company, against whom initiation of Corporate Insolvency resolution process has been sought for, has its registered office at A- 104/10, Wazirpur Industrial Area, Delhi-110052. Since the registered office of the respondent company is in Delhi, this Tribunal having territorial jurisdiction over the matter. 3. It is the case of the applicant that there is a business relationship between the applicant and the respondent since the year 2012. The applicant has also submitted that from 27.04.2012 the applicant had started supplying Iron & Steel and Coal and providing HMS, shredded me....

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....46,440/- along with interest computed at the rate of 24% per annum on the said amount of debt. 9. The Respondent has filed its reply to the demand notice on 05.06.2018 in which they have submitted that the total amount in default i.e Rs. 39,46,440/- has already been paid by the respondent. They have also submitted that the interest mentioned in the demand notice was never determined to be payable by the respondent. 10. Heard the parties. 11. It is not disputed that Rs. 39,46,440.26 has already been paid by the Respondent to the applicant after issuance of demand notice under Section 8. It is seen that Rs. 54, 46,440.26 was the actual amount of unpaid amount due to be paid by the Respondent. Rs. 15, 00,000/- was paid by the Respondent thr....