2021 (4) TMI 892

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....cating Authority) Rules, 2016 (for brevity, 'I & B Rules 2016'), following a default in meeting the financial obligations to its Operational Creditor viz. Aesys S.P.A., Italy as shown in the Company Petition filed in Form-VI. 2. On perusal of this Application, it is seen that the Company viz., M/s. Aesys Technologies India Private Limited bearing CIN U74900TN2011FTC079926 was incorporated on 30.03.2011 under the Companies Act, 1956 having its Registered Office at 4/58 Subramanya Iyer Street, West Mambalam, Chennai-600 033 has received share application money towards equity share capital from Aesys S.P.A., in respect of which allotment is seen to have been given effect. The total default amount has been mentioned as Rs. 1,39,12,542 ....

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....ed on record that passed a special resolution on 30.09.2019 for initiating a Corporate Insolvency Resolution process under Section 10 of the Code. Apart from this, the Corporate Applicant has filed documents such as Memorandum of Association and Articles of Association. 6. Looking at the material placed before this Bench, it is apparent on record that this Corporate Applicant had defaulted in making payments to Aesys S.P.A. Italy. In this case, the Corporate Applicant namely, M/s. Aesys Technologies India Private Limited has made a submission stating that they would like to recommend an IRP to take over the management of the affairs of the Corporate Applicant Company 7. In view of the same, we are of the view that this Company application....