TaxTMI 
TaxTMI 
2020 (2) TMI 816
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....vity 'Applicant') with a prayer to initiate the Corporate Insolvency process against Wave Global Educational Service Private Limited (for brevity 'Corporate Debtor'). 2. The Applicants were appointed as teaching staff at the coaching center at Rohtak, Haryana of the corporate debtor. The Corporate Debtor is a private limited company, incorporated under the provisions of Companies Act, 1956 on 12.07.2016 bearing CIN U74999DL2016PTC302924 and having Authorized Share Capital of Rs. 5,00,000/- and Paid Up Share Capital is Rs. 1,38,890/- as per Master Data of the company. The registered office of the corporate debtor is situated at Plot No. 6 S/F Left Side Sector-5 H.L. Care MLU Dwarka, New Delhi-110075. 3. The Applicants had s....
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....ctively, which had remained unpaid, total amounting to Rs. 7,69,417/- (Rupees Seven Lacs Sixty-Nine Thousand Four Hundred and Seventeen Only) as due and payable. 6. The Applicants issued legal notice dated 26.12.2018 to the corporate debtor with demand of default amount of Rs. 7,69,417/- but the corporate debtor failed to pay the said amount. 7. The Applicants issued demand notice dated 16.01.2019 under the provisions of Section 8 of the Insolvency and Bankruptcy Code, 2016 in Form 3 as prescribed under in the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to the Corporate Debtor. The said notice was sent by Speed Post at the registered address of the corporate debtor as well as via email as reflected in the....
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....d try this application. 14. The date of default as per Form V occurred from November 2018, hence the debt is not time barred and the application is filed within the period of limitation. 15. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. The present application is admitted, in terms of section 9 (5) of IBC, 2016. 16. Since the Applicant has not named the Insolvency Resolution Professional, this Tribunal from the list furnished by Insolvency and Bankruptcy Board of India, appoints Mr. Radhey Shyam Yadav, with registration number IIBI/IPA-0....