TaxTMI 
TaxTMI 
2020 (6) TMI 280
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....ule 6 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 [hereinafter referred to as "the Rules"], as operational creditor/applicant. 2. The respondent/corporate debtor is a company registered under the Companies Act, incorporated on 15-5-1997 having identification No. U17119GJ1997PTC032339 and having registered office at Astron Chowk, Rajkot, Gujarat State. Authorised share capital of the respondent company is Rs. 15,00,00,000/- and paid-up share capital is Rs. 7,83,03,730/-. The respondent company is engaged in manufacturing, supplying and exporting of grey fabrics, knitted fabrics and cotton yarn. 3. The applicant/operational creditor company is engaged in the business of supply and manufacture of wast....
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....r was compelled to issue demand notice under section 8 of the I & B Code on 15-2-2019 calling upon the respondent company to release dues aggregating to Rs. 6,30,227/-(Rupees six lacs thirty thousand two hundred twenty-seven only) within ten days on receipt of notice. 8. It is further stated by the petitioner that in its reply dated 16-3-2019 the respondent company tried to create dispute for the first time based on false and frivolous technical grounds. 9. In support of its claim, the operational creditor has annexed to the application, copy of all relevant documents like copy of invoices, demand notice, affidavit in support of the application, proof of service, computation showing the details of outstanding, e-mail communication, ledger....
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....t a proprietorship concern unlike a company or a partnership is not a legal entity and therefore any proceeding initiated by it would be a nullity. On this count alone the application is bad and is not maintainable. 13. On perusal of the records it is found that the instant application is filed by/in the name of M/s. Wind Water System as operational creditor. Even in part I of form 5 name of the operational creditor is shown/written as M/s. Wind Water System. 14. In this regard it is pertinent to refer some of the important decisions which are as under: In Miraj Advertising Corpn. v. Vishaka Engineering 115 [2004] DLT 471 it is held that "A proprietorship firm has no legal entity like registered firm. A suit cannot be initiated in the ....