2020 (12) TMI 35

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....rred to as Rules) by the applicant M/s. ABHEESNAIR ENGINEERING PRIVATE LIMITED (hereinafter referred to as 'Operational Creditor/Applicant') through its Director Shri. Sethumadhavan against M/S NAMBUDIRISONS AGRO FOODS INDIA PRIVATE LIMITED (hereinafter referred to as 'Corporate Debtor') having its Registered Office at 1st Floor, 32/938, Pallissery Road, Thammanam P.O, Cochin, Ernakulam- 682 032, Kerala. 2. The brief facts of the case are as under: i. Vide letter dated 15.09.2017, the Operational Creditor was appointed as a Super Stockiest of the Corporate Debtor. The Super Stockiest Agreement has been produced in Page 51-63 of the application. The Operational Creditor paid advance amounts as demanded by the Corporate Debtor. However, on....

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....hs, Twenty-Four Thousand and Sixty-Seven Only) requesting to repay the unpaid Operational Debt in full within 10 days from the date of receipt of the Demand Notice. However, there was no response from the Corporate Debtor. 3. The learned counsel for the Operational Creditor stated that it is, therefore, evident that despite the expiry of 10 days from the date of service of the demand notice, neither the Corporate Debtor disputed the debt nor paid the due amount to the Operational Creditor, which clearly shows that the Corporate Debtor is not able to pay its debts occurred on account of the normal course of business. Hence, the Operational Creditor filed this Application to initiate Corporate Insolvency Resolution Process, declaring Morator....

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....6 to satisfy that the definition of Operational Creditor and Operational Debt. Further we relied on Section 9 (3) (a) (b) (c) of the Code to determine whether process for initiation of CIRP was followed by the Operational Creditor or not. On verification of records, it is noted that the claim amount in this application is Rs. 25,24,067/- and the cause of action arose before March 2020. Therefore, in all counts the instant Application deserves to be Admitted. 6. For the aforesaid reasons, this Tribunal is of the view that the present application is complete and the Applicant is entitled to claim its dues, which remain unpaid by the Corporate Debtor. In the light of above facts and on perusal of the documents annexed to the Application, the.....