2020 (5) TMI 173

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.... director/shareholder of "BBF Home Care Products Ltd." against judgment dated February 18, 2019 and order dated February 22, 2019 both passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench. By judgment dated February 18, 2019 the Adjudicating Authority admitted the application under section 9 of the Insolvency and Bankruptcy Code, 2016 (for short, "the I and B Code") filed by the respondent-"Silvertoan Paper Ltd." (operational creditor) against the "corporate debtor". By subsequent order dated February 22, 2019 the Adjudicating Authority passed order of "moratorium" and appointed "interim resolution professional". 2. Learned counsel appearing on behalf of the appellant submitted that the impugned judgment d....

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....gh the registered office of the "corporate debtor" is at Ludhiana, Punjab. 5. According to the appellant, he having come to know the impugned judgment dated February 18, 2019 and an order dated February 22, 2019 invoked "corporate debtor" statutory right by filing application to set aside the ex parte order which is pending with the Adjudicating Authority for adjudication. It was further submitted that the application under section 9 of the "I and B Code" was not maintainable as the claim was barred by limitation and there being an "existence of dispute". 6. Learned counsel appearing on behalf of the first respondent submitted that the demand notice was issued to the "corporate debtor" on October 15, 2018 vide Speed Post No. EP50908592IN ....

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....erefore the first respondent (operational creditor) was asked to withdraw the petition. In the aforesaid circumstances, C. P. No. 288 of 2018 was filed by the "operational creditor" without any defect wherein notice was issued on October 26, 2018 which returned back with postal remarks "factory is closed". Thereafter, it was ordered to serve notice by e-mail. On November 20, 2018 an affidavit was filed with original postal report showing service. Thereafter, the application under section 9 was heard on January 17, 2019 and final order was passed on February 18, 2019 and followed by order dated February 22, 2019. 12. From the record, we find that the first respondent raised Invoice No. 550, dated October 11, 2011 for Rs. 9,60,841 ; Invoice ....