TaxTMI 
TaxTMI 
2021 (4) TMI 8
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.... and (2) M/s. Airson Ceramic Industries against the Corporate Debtor M/s. Nassco Trading India Private Limited, as such both the cases are clubbed together and passed the following common order. 2. These applications were filed by, M/s. Ambani Vitrified Pvt Limited (IBA/22/KOB/2020) and M/s. Airson Ceramic Industries (IBA/23/KOB/2020), Operational Creditors under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the Code) for initiating Corporate Insolvency Resolution Process (CIRP for short) against the Corporate Debtor. The Corporate Debtor was incorporated on 28.04.2010 under the Companies Act, 1956 in the name of M/s. Nassco Trading India Private Limited' with CIN No. U52341KL2010PTC025917. It has its ....
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.... 27/07/2016 2,74,631/- 5 697 30/07/2016 2,74,948/- 6 704 31/07/2016 2,74,948/- 7 705 31/07/2016 2,74,948/ 8 710 01/08/2016 3,20,986/ 9 713 01/08/2016 3,21,355/- 10 718 01/08/2016 3,21,724/- 11 719 01/08/2016 3,22,092/- 12 720 01/08/2016 3,22,461/- 13 779 15/08/2016 3,15,082/- 14 780 15/08/2016 3,20,986/ 4. Due to continuous failure of the Corporate Debtor to honour its commitments, the Operational Creditor issued demand notice dated 12.12.2019 as per Section 8 of the Code. The default was occurred from 21.05.2018 and neither any amount received from the Corporate Debtor nor they refuted the debts. IBA/23/KOB/2020 ....
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....6 3,19,031/- 18 0562 15/08/2016 3,19,031/- 19 0563 15/08/2016 3,19,031/- 20 0566 16/08/2016 3,19,031/- 21 0579 21/08/2016 3,19,031/- 22 0580 21/08/2016 3,19,031/- 23 0592 23/08/2016 3,19,031/- 6. Despite the invoice were duly received and dues were acknowledged by the Corporate Debtor, they failed to pay the due amount. Hence, the Operational Creditor issued a demand notice under Section 8 of the Code on 31.08.2019. The Corporate Debtor failed to fulfil its obligations to make timely payment against supplies/services provided. 7. Therefore, the Operational creditor filed this Application on 05.03.2020 to initiate Corporate Insolvency Resolution Process, declara....
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....llowed by the Operational Creditor or not. Section 9 (3) is defined as under: - "(3) The operational creditor shall, along with the application furnish- (a) a copy of the invoice demanding payment or demand notice delivered by the operational creditor to the corporate debtor; (b) an affidavit to the effect that there is no notice given by the corporate debtor relating to a dispute of the unpaid operational debt; (c) a copy of the certificate from the financial institutions maintaining accounts of the operational creditor confirming that there is no payment of an unpaid operational debt." 11. It also appears from the Application that the claim amount satisfies the minimum default requirement [prior to t....
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.... its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002; IV. The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 1. It is further made clear that: I. The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period. II. That the provisions of Sub-Section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. III. That the order o....