2019 (10) TMI 1364

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....esented by its Authorised Signatory of the Company Mr. Pankaj Agarwal, duly authorised by the Board Resolution dated 02.04.2019 (Exhibit 'D' to the petition at p.22), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Startech Private Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a private company limited by shares and incorporated on 28.03.2001 under the Companies Act, 1956, with the Registrar of Companies (RoC), Maharashtra, Mumbai. Its Corporate Identity Number (CIN) is U24110MH2001PTC131422 Its registered office is at Block No. 13-14, Seva Sadan, C.A. Road Nagpur MH 440018. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed bef....

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....s claimed to be due and payable to the Operational Creditor is Rs. 20,61,793/- (Rupees twenty lakh sixty-one thousand seven hundred ninety-three only), as mentioned at page 4 of the Petition. 6. The Operational Creditor had served a Demand Notice in Form 3 dated 13.04.2018 to the Corporate Debtor (Exhibit 'B', pp. 13) in terms of section 8 of the IBC. However, the Corporate Debtor has not replied to the Demand Notice. 7. The Corporate Debtor has remained unrepresented in spite of many opportunities given to it to appear and submit a reply in the matter. 8. We have heard the arguments of the Learned Counsel for the Operational Creditor and perused the records. 9. The Operational Creditor has submitted the following Invoic....

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....admission of the Petition. In view of this, this Adjudicating Authority admits this Petition and orders initiation of CIRP against the Corporate Debtor. 13. The Operational Creditor has proposed the name of Mr. Pawan Kumar Ramdhan Agarwal, Registration No. IBBI/IPA-001/IP-P00414/2017-18/10737 as Interim Resolution Professionsal (IRP). 14. It is, accordingly, hereby ordered as follows: - (a) The petition bearing CP(IB) 1689/MB/C-IV/2019 filed by Megamet Steels Private Limited, the Operational Creditor, under section 9 of the IBC read with rule 4 (1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against Supreme Startech Private Li....

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....l the completion of the CIRP or until this Tribunal approves the resolution plan under sub-section (1) of section 31 of the IBC or passes an order for liquidation of Corporate Debtor under section 33 of the IBC, as the case may be. (e) Public announcement of the CIRP shall be made immediately as specified under section 13 of the IBC read with regulation 6 of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. (f) The Operational Creditor has proposed the name of Interim Resolution Professionsal (IRP). Mr. Pawan Kumar Ramdhan Agarwal, Registration No. IBBI/IPA-001/IP-P00414/2017-18/10737, having address at 42, Gopal Bhavan, 199, S.G. Marg, Marine Lines (E) Mumb....