2018 (8) TMI 1908

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....titioner. Ms. Sudha Sachev, Adv. for the Respondent. ORDER 1. This is a petition filed by M/s. Sai Kripa Associates invoking the provision of Section 9 of Insolvency and Bankruptcy Code, 2016 ("the Code") against the Respondent (M/s. Kstar Naturalle Resources Private Limited) for initiating Corporate Insolvency Resolution Process ("CIRP") against the Respondent. 2. The Applicant has averred ....

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....om the Ledger Accounts maintained by the Operational Creditor, the total principal outstanding amount is Rs. 38, 56,779/-. d. The Operational Creditor was entitled to an amount of Rs. 38,56,779/- along with interest @ 18% per annum which amounted to Rs. 7,53,181/- calculated from 30.6.2017 to 30.7.2018. e. On 30.7.2018 the activities of the Corporate Debtor qualified as "events of default". As....

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....was defective and did not confirm to the mandatory requirements of law as according to Rule-5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 the Demand Notice or Invoice demanding payment should have also been supplemented by an information utility which the Applicant failed to file. c. That there was no debt due and payable by the Respondent Company to the ....

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....ring charges was against the stipulated terms and conditions of the said work order. 4. The Section 3 (23) of the Insolvency and Bankruptcy Code, defines 'Person' which states that, "Person" includes- a. An individual; b. A Hindu Undivided Family; c. A company; d. A trust; e. a partnership; f. a limited liability partnership; and g. any other entity established under a sta....