2019 (11) TMI 1532

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.... "Corporate Debtor") alleging that the Corporate Debtor committed default on 23.11.2018 in making payment of Rs. 3,08,290/- along with interest @24% p.a. from 23.11.2018 onwards, by invoking the provisions of Section 8 and 9 of the Insolvency & Bankruptcy Code (hereinafter called "Code") read with Rule 5 and 6 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The petition reveals that on 19.09.2018 and 20.10.2018, the Corporate Debtor placed two purchase orders viz. Nos. SBIPL/OC/2018-19/PO-190902 and SBIPL/OC/2018-19/PO-201005 with the Petitioner for supply of chemical products. Based on the said purchase orders, the Petitioner raised two invoices aggregating to a sum of Rs. 12,16,580/-and delivered the ma....

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....ner submitted that the petition was served on the Corporate Debtor and proof of service was filed to that effect. Subsequently, the counsel for the Petitioner intimated the date of hearing to the Corporate Debtor but there was no representation from the Corporate Debtor's side. 7. On going through the Petition and on hearing of the submissions of the Counsel for the Petitioner, it is amply clear that the Corporate Debtor is liable to pay a sum of Rs. 3,08,290/- but defaulted in making the payment, hence, the Petition deserves admission. 8. One Ms. Pinkush Jaiswal, residing at 204, Kanchan Apptt., Dhantoli, Tikekar road, Nagpur, Maharashtra - 440 012; having Registration No. IBBI/IPA-002/IP-N00452/2017-18/11409 has given her consent in....