2019 (8) TMI 1456

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....hority) Rules, 2016 (for brevity 'the Rules') with a prayer to trigger Corporate Insolvency Resolution Process in respect of the respondent M/s Shahi Infrastructure Pvt. Ltd. (for brevity the 'corporate debtor'). It is appropriate to mention that the 'operational creditor' has filed the petition through its sole proprietor Shri Brahmapal Singh. 2. The Corporate Debtor - M/s Shahi Infrastructure Pvt. Ltd. was incorporated on 09.12.2004 under the provisions of the Companies Act, 1956. The identification number of the Corporate Debtor given is CIN U45201DL2004PTC131102. 3. It is submitted by the petitioner that a contract of service was entered into between the operational creditor and the respondent-corporate debtor ....

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....tted that no reply was received by the respondent- corporate debtor to the said notice. 8. The counsel of the respondent-corporate debtor put in an appearance on 16.07.2019 after the issuance of notice by the bench on 02.05.2019. As per the order dated 16.07.2019 the respondent-corporate debtor was directed to file a reply and the matter was fixed for arguments. It is pertinent to mention that no reply is filed till date. 9. A perusal of the statement of account, invoices and ledger account would show that the amount of more than Rs. 50 Lakhs is owed by the corporate debtor to the operational creditor and despite the demand notice under issued under Section-8 the amount has remained unpaid. It is also evident that neither any reply was fi....

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....and similar other supplies of goods or services as provided by Regulation 32 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 12. In pursuance of Section 13 (2) of the Code, we direct that Interim Insolvency Resolution Professional shall immediately (3 days) make public announcement with regard to admission of this application under Section 9 of the Code. 13. We direct the Operational Creditor to deposit a sum of Rs. 1 Lac with the Interim Resolution Professional to meet out the expenses to perform the functions assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within t....