2020 (9) TMI 944

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....the Rules') by Mr. Pankaj Mohan Gupta being the proprietor of M/S. Pamper Polymers& Beverages (for brevity 'Applicant')with a prayer to initiate the Corporate Insolvency process against M/s. Ouranos Foods & Beverages Pvt. Ltd. (for brevity 'Corporate Debtor'). 2. The Applicant Mr. Pankaj Mohan Gupta is the proprietor of M/s. Pamper Polymer & Beverages, which is a sole proprietorship firm incorporated under the provision of Companies Act 1956. The applicant has its registered office at 49/56, Golden Protein Compound Site-IV, Industrial Area Sahibabad, Ghaziabad, UP. Also, at 193, First Floor, Near Yadav Clinic, Guru Ramdas Nagar, Laxmi Nagar, Delhi- 110092. The applicant is a polymer industry, involved in manufacturing....

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....the VAT sales invoice No. T-45 dated 23.03.2016 in full and a part payment of Rs. 25,500/- for the VAT sales invoice No. T-31. Thereafter, the corporate debtor has not paid anything, hence a part payment of Rs. 32,250/- is due and pending in Invoice T-31 and the total amount of invoice T-78 and T-101, the total amount due in respect of the invoices is Rs. 1,43,550/- 6. The applicant submits that as per the agreed terms between the parties, in the event of failure of payment of invoices, an interest @ 2% per month on unpaid invoices from the month next to the invoicing month shall be charged. The applicant further submits that the corporate debtor failed to make any payment after 22.12.2016, hence an interest of Rs. 99,713/- is further pa....

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....pees Two Lakh, Forty-Three Thousand Two Hundred Sixty-Three only) till date of filling of application which is due and payable by the corporate debtor to the applicant. 10. It is pertinent to note that the corporate debtor has failed to appear and present his defense hence has been proceeded ex-parte vide order dated 12.02.2020. 11. The date of default is 22.12.2016 and the present application is filed on 17.12.2019. Hence the application is not time barred and filed within the period of limitation. 12. The registered office of corporate debtor is situated in Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 13. The Applicant has filed an affidavit in compliance of section 9(3) (b). 14.....