2021 (4) TMI 764

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....cy and Bankruptcy Code, 2016 [hereinafter referred to as "the IB Code"] read with Rule 4 of the Insolvency and Bankruptcy Application to Adjudicating Authority Rules, 2016 (hereinafter referred to as "the Rules") for the purpose of initiating corporate insolvency resolution process [hereinafter referred to as "CIRP") against M/s. Shree Jagdamba Dyeing and Printing Mills Pvt. Ltd., the Respondent company, the Corporate Debtor. 2. The Financial Creditor is a sole proprietorship firm and is engaged in the business of trading in dyes, chemicals, Textile Fabrics and Imported Coa. 3. M/s. Shree Jagdamba Dyeing and Printing Mills Pvt. Ltd., the Respondent, a company incorporated on 30.07.1997, under the provisions of the Companies Act, 1956 ....

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....wn the name of the Financial Creditor in the list of entities, the Corporate Debtor owes payment. The said fact is reflected as ANNEXURE-E of the petition. 8. The Petitioner has further submitted that after getting no response from the side of Corporate Debtor after several reminders, we send demand notice dated 22.08.2019 for recovery of the dues to the Corporate Debtor as well as the chartered accountant through registered speed post and also sent an email on their email id. The said fact is reflected as ANNEXURE-F. 9. The Petitioner submitted the following documents in support of his claim against the Corporate Debtor. * Bank Account Statements. * Copy of the audited balance sheet of the Corporate Debtor for the y....

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....tatement made by the Petitioner in the police complaint clearly shows that he has not given any loan to the Respondent and he was not a Financial Creditor. The said fact is reflected as ANNEXURE-B(Colly). 13. The Respondent has further submitted that the application is also defective and is liable to be rejected as information in Part-IV-Para-2 with regard to the amount claimed to be in default and the date on which the default occurred is not available and Part-V with regard to the Particulars of a Financial Debt (Documents, Records and Evidence of Default is also not mentioned/The Respondent in his affidavit dated 04.12.2020 has stated that the payments are made for Sale of goods. 14. The Petitioner has rebutted all the points in wr....