TaxTMI 
TaxTMI 
2019 (1) TMI 1775
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....3. That the respondent/corporate debtor is a private limited company registered under the Companies Act, 1956, incorporated on 30.07.2003, having identification No. U74994GJ2003PTC042695 and having office at G-9, Mahaveer Towers, Nr. Mahalaxmi Cross Roads, Paldi, Ahmedabad 380 007, Gujarat State. Authorised share capital of the respondent company is Rs. 1,00,00,000/- and paid-up share capital is Rs. 50,00,000/- 4. That the Respondent company has been dealing with the applicant since past several years and for the purchases made before December, 2013, respondent company owed substantial amount to the applicant and the applicant had refused to supply further products to the respondent. However, on the assurance of the corporate debtor to clear all the outstanding debt, applicant company agreed to supply Commercial Resin to respondent company. That, the applicant had supplied material to the respondent from time to time between December, 2013 to February, 2016 as per the details given at Annexure - 1D attached to the application. That, the respondent company has not raised any dispute or demur with respect to the quality of commercial resin supplied by the applicant and during the pe....
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....mercial resin to the respondent from December, 2013 onwards. 7. It is further stated that, time and again through e-mails the applicant has reminded the respondent company to release the dues. However, despite repeated requests, reminders and personal follow up by the applicant, the respondent company has failed to release the outstanding payments. 8. It is stated by the learned lawyer appearing on behalf of the applicant that, on 05.08.2017 the applicant issued demand notice under Section 8 of Insolvency and Bankruptcy Code read with Rule 5 of the Insolvency and Bankruptcy Regulations, 2016 calling upon the respondent company to pay aggregate amount of Rs. 58,08,811/- (Rupees fifty-eight lacs eight thousand eight hundred eleven only) from the date of receipt of the demand notice and till the actual payment and/or realisation, within ten days of the receipt of the notice. That, the said notice was returned undelivered with the remark "left". That, another attempt was made to serve the said notice at the Vadodara Branch of the respondent company through a registered post on 14.08.17 and the said notice was served at the Vadodara Branch. 9. Since the earlier notice was sent throug....
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....It is further stated that, the respondent has raised a dispute on 01.03.2016, hence the petitioner is not eligible to make any claim. 13. During the course of argument by the applicant to the objections raised by the corporate debtor, the applicant stated that since the notice dated 05.08.2017 has been withdrawn by the applicant the contents therein hold no relevance for the purpose of present proceedings and the reliance placed on this notice by the respondent is completely misconceived. Further, it is submitted that, since the said notice was sent through advocate, the applicant found it fit to send a fresh notice as per the Rules of the IBC. 14. Since the notice dated 09.11.2017 was returned undelivered, the applicant again sent a notice on 09.12.2017, at the e-mail address of the corporate debtor registered at the website of Ministry of Corporate Affairs. 15. It is further stated that, the vernacular letter dated 01.03.2016 reflecting pre-existence of dispute is also false. In as much as the affidavit dated 07.06.2018 filed by authorised person of Poonam Enterprises/Mahavir Express Services Pvt. Ltd. states that, the courier bearing docket number 164310021443 addressed to th....
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....e respondent is that there was no justification for issuing two demand notices. 20. That, with regard to the service of demand notice, it is found that on withdrawal of the first demand notice, which as per the applicant is not as per the rule, the applicant issued fresh demand notice on 09.11.2017 in form No. 3 at the registered office address of the company. Since the same was returned undelivered, the applicant sent the demand notice through e-mail at the e-mail address of the company available in the Master Data of Ministry of Corporate Affairs. Hence, in view of this development, service of notice is found to be complete. It is pertinent to mention here that Rule 5 (2)(b) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 allows service of demand notice by way of e-mail. For the sake of brevity Rule 5 (2) is reproduced hereunder: - Rule 5(2)(b) "(2) The demand notice or the copy of the invoice demanding payment referred to in sub-section (2) of Section of the Code, may be delivered to the corporate debtor, (a) At the registered office by hand, registered post or speed-post with acknowledgement due; or By electronic mail service to a who....