2018 (11) TMI 1803

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') by M/s Concord Infrastructure Pvt. Ltd. (for brevity 'Applicant') through its Director Sh. Pankaj Agarwal who is duly authorized vide Board resolution dated 15.07.2018 with a prayer to initiate the Corporate Insolvency process against M/s Shubhkamna Buildtech Private Limited (for brevity 'The Company'). 2. The Applicant, the Operational Creditor namely M/s Concord Infrastructure Private Limited is a company incorporated under the provisions of Companies Act, 1956 having CIN No. U70109DL2006PTC152533. 3. The company is having its registered office at 184, Saini Enclave, East Delhi- 110092. 4. The Respondent, the Corporate Debtor....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....7/- 12.12.2016 RA 07  1,34,49,016/- 28.02.2018 RA 08 3,20,00,000/- 10.04.2018 RA 09  23,10,456/- 10. The applicant has stated that total debt due and payable by the Corporate Debtor to the applicant is Rs. 2,71,71,296/- exclusive of interest at the rate 18% per annum as on 11.06.2018. 11. Inspite of various requests made and reminders sent to the Corporate Debtor by the Applicant vide letters dated 01.02.2017, 01.03.2017, 12.04.2017, 02.06.2017, 29.06.2017, the Company has neither paid nor responded to the applicant. 12. It is further submitted by the applicant that respondent company did not pay the above raised bills due to which applicant was forced to stop the work. After stoppage of the wor....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ment of Section 9(3)(c) of the IBC 2016. 17. The registered office of corporate debtor is situated in New Delhi and therefore this Tribunal has jurisdiction to entertain and try this application. 18. In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues, establishing the default in payment of the operational debt beyond doubt, and fulfillment of requirements under section 9(5) of the Code. Hence, the present application is admitted. 19. As a consequence of the application being admitted in terms of Section 9(5) of IBC, 2016 moratorium as envisaged under the provisions of Section 14(1) and as extracted hereunder shall follow in relation to the Corporate Debtor prohi....