2021 (1) TMI 144

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....lant : S. Simhadutta For the Respondent : S.J. Sanghvi ORDER Rajeswara Rao Vittanala, Member (J) 1. C.P. (IB) No. 189/BB/2020 is filed by M/s. Kunal Conchem Private Limited ('Petitioner/Operational Creditor'), U/s. 9 of the IBC, 2016, R/w Rule 6 of the I&B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CI....

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....ered office situated at No. 525/A, 19th Main, 3rd Sector, HSR Layout, Bangalore - 560102. Its Authorised Share Capital is Rs. 5,00,000/- and that of Paid Up Share Capital is Rs. 5,00,000/-. (3) The Corporate Debtor approached the Operational Creditor for purchase of various construction chemicals for their construction work at APTIDCO-EWS Housing Project, Eluru and Kurnool (Andhra Pradesh). Acco....

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.... sought by the Corporate Debtor, has issued a demand notice dated 05.12.2019 in the prescribed Form 5, wherein demanding payment in respect of unpaid operational debt of Rs. 22,87,583/- along with the interest at 18% p.a. amounting to Rs. 3,09,339/- total amounting to Rs. 25,96,922/-. The Corporate Debtor has defaulted in making payment against the material supplied and invoices raised upon the Co....

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....ordingly, the Respondent has come forward to settle the issue in question. Therefore, the Parties may be given one opportunity to settle the issue between themselves, failing which, the Petitioner may be given liberty to approach this Adjudicating Authority. 5. Since the Instant Company Petition is at admission stage, and the Parties are willing to settle the issue in question, we are inclined to....