TaxTMI 
TaxTMI 
2019 (12) TMI 1310
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....nkruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') by M/s Health Care at Home India Private Limited (for brevity 'Applicant'), through its authorized signatory Mr. Sukhvinder Singh, authorizing him to file present application vide Board resolution dated 22-1-2019, with a prayer to initiate the Corporate Insolvency Resolution Process (CIRP), against M/s. Satyam Drugs Pvt. Ltd. (for brevity 'Respondent'). 2. The Applicant, the Operational Creditor, namely M/s. Health Care at Home India Private Limited, is a company incorporated on 27-9-2012, under the provisions of Companies Act, 1956 with CIN No. U85190DL2012PTC242876, having its registered office at 4thFloor, Punjabi Bhawan, 10-....
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.... Total Outstanding Amount of the Invoice (in Rs. ) DEL/18-19/0483 28-7-2018 10,62,336.40/- DEL/18-19/0625 31-8-2018 8,31,462.40/- DEL/18-19/0753 11-10-2018 9,20,673.60/- DEL/18-19/0754 11-10-2018 8,20,698.30/- DEL/18-19/0756 12-10-2018 10,10,688/- DEL/18-19/0757 12-10-2018 22,98,633/- DEL/18-19/0758 12-10-2018 20,85,333.60/- DEL/18-19/0763 13-10-2018 16,08,217.80/- DEL/18-19/0765 15-10-2018 12,55,464/- DEL/18-19/0769 16-10-2018 10,13,254.20/- DEL/18-19/0772 17-10-2018 11,49,632.30/- DEL/18-19/0776 18-10-2018 7,89,876.40/- DEL/18-19/0778 18-10-2018 16,94,284.20/- DEL/18-19/0780 22-10-2018 10,97,123.40/- 5. The Appl....
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....ring/encashment with its banker, namely CITI Bank, Ground & First Floor, DLF Capitol Point, Baba Kharak Singh Marg, Connaught Place New Delhi 110001, in A/c No. 0065931222. It is stated that on presentation of the aforementioned cheques, the said cheques were returned unpaid by the Respondent's bank. 6. The Applicant further states that, thereafter, it initiated complaint cases under Section 138 of the Negotiable Instruments Act, 1881 with regard to the aforementioned Cheques thus, Complaint Case Nos. 2140 of 2019, 2142 of 2019, 1028 of 2019, 2143 of 2019, 2144 of 2019, 2145 of 2019 and 2146 of 2019, were initiated against the Corporate Debtor at Patiala House Courts. The said Complaint Cases are presently pending adjudication before....
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....plicant by the Respondent, on account of the reverse sales made by the Respondent, on the other hand an amount of Rs. 2,24,15,101/- as outstanding dues is payable by the Respondent to the Applicant on account of purchases made by the Respondent from the Applicant. Therefore, after adjusting both the recoverable and payable amounts, a net sum of Rs. 27,08,891/- is payable by the Respondent. A cheque of said sum of Rs. 27,08,891/- has been prepared by the Respondent, which can be collected by the Applicant. 10. The applicant has stated that total debt due and payable is Rs. 80,72,422/- (Rupees Eighty Lakhs Seventy Two Thousand Four Hundred Twenty Two) along with Rs. 5,52,236/- (Rupees Five Lakhs Fifty Two Thousand Two Hundred Thirty Six) t....
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....s. 27,08,891/- subject to issuance of a full and final receipt against all its claims against respondent inclusive of the claims made in aforesaid complaint cases U/S 138 of the N.I. Act." 13. Pursuant to the reply of the Corporate Debtor, the Operational Creditor has filed its rejoinder, in its rejoinder the Applicant states that, "...it is denied that there have been any reverse sales amounting to Rs. 1,97,06,210/- made by the Corporate Debtor is being put to strict proof thereof. It is further stated that the amount as claimed by the Operational Creditor is Rs. 2,02,07,685.96/- (Rupees Two Crores Two Lacs Seven Thousand Six Hundred Eighty Five Paise Ninety Six Only) and not Rs. 2,24,15,101/- (Rupees Two Crores Twenty Four Lacs Fifteen....
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....uated in New Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 18. The Applicant has not proposed the name of any Interim Resolution Professional. In view of the same, this Bench appoints the Ms. Rashmi Agarwalla, having registration no. IBBI/IPA-001/IP-P01461/2018-2019/12281, email address is [email protected] and contact number is +91-9871190333, as the IRP of the Respondent. The IRP is directed to take all such steps as are required under the statute, more specifically in terms of Sections 15,17,18,20 and 21 of the Code. 19. We direct the Operational Creditor to deposit a sum of Rs. 2 lacs with the Interim Resolution Professional Ms. Rashmi Agarwalla to meet out the expenses to perform....