2021 (1) TMI 981

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....(TECHNICAL) Learned Counsel Mr. Gaurav Mehta for the Operational Creditor Learned Counsel Mr. Rishi Malik for the Corporate Debtor ORDER This application has been filed by M/s. Raghuvanshi Refractories Operational Creditor to initiate CIRP against M/s. Desai Impex Pvt. Ltd. being Corporate Debtor. The outstanding sum has been claimed  at Rs. 11,30,146/- and date of default has bee....

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....ned Counsel Mr. Rishi Malik appeared on behalf of Corporate  Debtor made strong plea that dismissal of this application surely on the ground that so-called demand notice was not demand notice as this was not on the format prescribed under Section 8(1) of IBC, 2016  r.w Regulation 5 of (Application to Adjudicating Authority)  Rules, 2016. It was further contended that even person who....

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....s well as material on record. We find that in case of  proceedings under Section 9 of IBC, 2016 or section 8 of IBC 2016 of significant nature. It has been observed by higher judicial forums that requirement of service of notice under Section 8(1) of IBC, 2016 is crucial so that any entity is not put into CIRP in a light manner. Rule 5 (Application to Adjudicating Authority) Rules, 2016 provi....

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.... and in  absence thereof, application filed under Section 9 was liable to be dismissed. As stated earlier, neither specified form has been delivered nor contents of such notice meet the requirements of law. In this view of the matter, we are of the considered view that present  application is liable to be dismissed as it is an incurable defect.  Accordingly, the application filed by....