2019 (2) TMI 1883

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....ion to Adjudicating Authority Rules, 2016) seeking Corporate Insolvency Resolution Process in respect of M/s. Jain Manufacturing India Pvt. Ltd. sailing it as Corporate Debtor. 2. M/s. M/s Jain Manufacturing India Pvt. Ltd/Respondent and Sh. Vikas Tiwari/Petitioner entered into an agreement dated 01.08.2017. As per the terms of the said agreement Sh. Vikas Tiwari will arrange for supply of Cosmetic goods manufactured by M/s. Jain Manufacturing India Pvt. Ltd. on commission basis in whole of Uttar Pradesh. 3. It is an agreement between the parties that Vikas Tiwari will book orders for supply, arrange for dispatch and also collect payments on behalf of M/s. Jain Manufacturing India Pvt. Ltd. in form of Cash/Cheque/Demand Draft/NEFT/RTG....

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....0.09.2018 8. Petitioner issued demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 read with Rule 5 of the Insolvency Rules in respect of unpaid Operational Debt due to him on 22.10.2018 by speed post and it was received by the Respondent on 25.10.2018. Respondent issued reply notice dated 20.11.2018 stating that provided some reasonable time may be given for payment and he has unable to payment right now. Respondent requested not to initiate proceeding under Section 8 of the I&B Code. 9. Petitioner alongwith this petition filed the copies of the Commission Bills copy of the agreement dated 01.08.2017 detailed statement of account from August, 2017 to September, 2018 and declaration dated 29.11.2018. 10. Petit....

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.... admitted that Operational Debt remain unpaid. 18. Petition is completed in all respects. Even in the reply notice respondent did not raise any dispute in relation to unpaid Operational Debt claimed by the Petitioner. 19. Hence, this petition deserves to be admitted and it is accordingly admitted. 20. This Authority hereby appoint Mr. Manoj Kumar Singh, MARS & Associates, Cost Accountant, 203, 2nd Floor, 10 Sikka Complex Community Centre, Preet Vihar New Delhi- 110092 Registration No. IBBI/IPA-003/IP-N00050/2017-18/10443, Email address: [email protected] Insolvency Professional to act as Interim Resolution Professional. 21. This Adjudicating Authority hereby order moratorium under Section 13(1)(a) of the I & B Code prohibi....