TaxTMI 
TaxTMI 
2020 (4) TMI 316
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..... for the Applicant. Ranju Mohan, Adv. for the Respondent. ORDER 1. This Application has been filed by, Mr. Rajendra Jain, Unit Head, Mangal Electrical Industries Pvt. Ltd (Hereinafter referred as the 'Operational Creditor') under section 9 of the Insolvency and Bankruptcy Code, 2016 (for short to be referred hereinafter as the 'I & B Code') for initiating Corporate Insolvency ....
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....tor has approached the Operational Creditor and placed the orders of various materials (Annexure -3 with the application) In terms thereof, the Operational Creditor supplied the material of requisite standards to the Corporate debtor. Thereafter, the Operational Creditor raised various invoices on the basis of the goods supplied. The Operational Creditor also charged the interest accrued on accoun....
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....d due to the fact that there is an admission of liability several times. It was further submitted that there is no dispute filed by the Debtor in any court of law. 5. The Operational Creditor further submitted that the total amount of invoices raised is Rs. 4,46,15,545/- (Rupees Four Crores Forty-Six Lakhs Fifteen Thousand Five Hundred and Forty-five Only) along with an interest of Rs. 1,95,63,77....
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....ought time for filing settlement memo and the matter was Reserved for Orders to 05.12.2019. A copy of the settlement agreement arrived between them was submitted before this Bench and sought short time for filing the original agreement along with withdrawal petition. 9. Today when the matter was taken up for consideration, a joint Memo of withdrawal/settlement has been filed stating that the Oper....