TaxTMI 
TaxTMI 
2019 (11) TMI 1570
X X X X Extracts X X X X
X X X X Extracts X X X X
....kateswaran, Team Leader - Finance & Company Secretary authorized vide Board Resolution dated 31st March, 2010, hereinafter referred to as the "Operational Creditor" seeks initiation of Corporate Insolvency Resolution Process in respect of M/s. Glaze Infrastructure Private Limited, a Corporate entity having its registered office at Kolkata, hereinafter referred to as the "Corporate Debtor". 2. It is submitted in the application that the Operational Creditor is one of the leading float manufacturer of glass in the world and make solar control glass, fire resistant glass and other various types of float glasses in India. The Corporate Debtor had approached the Operational Creditor with its requirement of glass in its ordinary course of busi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ould be resolved when we procure the C forms. We also have many claims about which we have emailed Saint Gobain representatives many times over the last 1.5 years". 5. The Operational Creditor has also filed an affidavit as required under section 9(3)(b) of the Code and submitted that the Corporate Debtor in reply to the demand notice dated 7th August, 2017 has not disputed the existence of the unpaid operational debt. The Operational Creditor has filed a consolidated statement of all the invoices indicating the aggregate amount due to be Rs. 1,91,52,681 (Rupees One crore Ninety One Lakhs Fifty Two Thousand Six Hundred Eighty One Only). The Operational Creditor filed copies of all the invoices, TDS Certificates, etc. The application, in ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....een Thousand Seven Hundred Thirty Five Only) to your company, being Saint Gobain India Private Limited in the following manner. ** ** **" 8. From the aforesaid discussions it is clear that the Corporate Debtor has acknowledged, admitted and confirmed its outstanding liability of Rs. 1,05,17,735/- towards the Operational Creditor as on 12th March, 2018. Moreover, this letter has been written by the Corporate Debtor to the Operational Creditor during the pendency of this application. 9. From the aforesaid discussions and the pleadings and documents placed on record by both the parties, it can safely be deduced that there is an admitted outstanding deb....
X X X X Extracts X X X X
X X X X Extracts X X X X
....) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any Court of law, Tribunal, arbitration panel or other authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (d) The recovery of any property by an owner or lessor where such prope....