2020 (2) TMI 913

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.... to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') by M/s. Bhupindra Agro Private Limited, (for brevity 'Applicant'), through its director, Mr. Harish Jain, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Shri Vardhman Rice Mills Pvt. Ltd. (for brevity 'Respondent'). 2. The Applicant, namely M/s Bhupindra Agro Pvt. Ltd. is a Private Limited company, registered under the Companies Act, 1956, incorporated on 18.03.1997, with CIN No. U01122PB1997PTC019603, having its registered office at Sehajpura Road, Samana Distt, Patiala, Punjab 147101. 3. The Respondent, namely M/s. Shri Vardhman Rice Mills Pvt. Ltd., is a company incorporated on 02.03.2009, under the pr....

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.... 30.04.2017 15.05.2017 47,820/- 9 02.05.2017 17.05.2017 46,890/- 10 04.05.2017 19.05.2017 47,460/- 11 07.05.2017 22.05.2017 48,000/- 12 07.05.2017 22.05.2017 47,040/- 13 08.05.2017 23.05.2017 48,660/- 14 12.05.2017 27.05.2017 47,220/- 15 12.05.2017 27.05.2017 45,840/- 16 15.05.2017 30.05.2017 48,360/- 17 17.05.2017 01.06.2017 27,150/- Total     5,01,360/- 5. The Operational Creditor further states that, in spite of various requests made and reminders sent by the Applicant, the respondent did not reply nor made the payment of balance amount, i.e., Rs. 5,01,360/- (Rupees Five Lakhs One Thousand Three Hun....

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....ce was accepted by the Corporate Debtor. 11. After the service of said notice, the respondents have caused appearance in the matter and have filed their reply, in its reply to the present section 9 application, the respondent states that due to financial problems and hardship, the company is facing hardship and is not in a position to honor its financial commitments. In such a situation the company has no alternative but to submit to resolution process. 12. The applicant has filed an affidavit under section 9(3)(b) stating that no notice of dispute from Corporate Debtor is received. 13. The applicant has attached the copy of Bank statements issued by Punjab National Bank in compliance with the requirement of section 9(3)(c) of the ....