2019 (3) TMI 1665

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.... M/s. Welcome Distilleries Pvt. Ltd., Chhatisgarh-495001, to claim an outstanding Operational Debt of Rs.10,35,948/-, reproduced below:- "STATEMENT OF TOTAL DUES/ UNPAID AMOUNT OF M/S. WELCOME DISTILLERIES PVT. LTD. AS ON 30.06.2018 SR. NO. PARTICULARS INV NO INV DATE INV AMT AMOUNT RECEIVE D O/S AMT DUE DATE OF PAYMENT OVER DUE DAYS INT @ 24% YEAR 1 Sales Invoice UNIT-II/INV/14-15/118 27/05/2014 168,759 163,501 5,258 30/06/2018 1495 5,169 2 Sales Invoice UNIT-II/INV/14-15/119 27/05/2014 112,506   112,506 30/06/2018 1495 110,595 3 Sales Invoice UNIT-II/INV/14-15/120 27/05/2014 112,506   112,506 30/06/2018 1495 ....

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....wings. 20% After completion of Civil and structure. 30% payment should be made within dispatch of materials (against proof of dispatch in 02 lots of 15% and 15%) 10% on erection and balance against successful commissioning (PDC-45 days) and RAJ will give bank guarantee for 10% of total value. 2.0. Deliveries and Commissioning 1) Supply of Plant and Machinery: After signing of techno-commercially clear contract and after receipt of the stipulated first advance, the various equipment in your scope will be ready for delivery within 5-6 months. The delivery schedule is subject to the timely release of all the payments and completion of various responsibilities of us like various stator clear....

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.... as defined u/s. 3(12) of The Code is established. Demand Notice has been issued to the Respondent Debtor, however, the Respondent Debtor had not replied to the said Demand Notice within the prescribed time period of 10 days u/s.8(2) of The Code nor made the payment. 8. The Petition was listed on 03.01.2019 and 05.03.2019. However, the Corporate Debtor was not attending on any of the said dates of hearing. 9. As a consequence, keeping the admitted facts in mind that the Operational Creditor had not received the outstanding Debt from the Corporate Debtor and that the formalities as prescribed under The Code have been completed by the Petitioner/ Operational Creditor, it is my conscientious view that this Petition deserves "Admission". ....