2021 (8) TMI 857
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....lution Process (CIRP) against Gopinath Engineering Co. Pvt. Ltd. (hereinafter called "Corporate Debtor") alleging that the Corporate debtor committed default in making payment to the Operational Creditor. This petition has been filed by invoking the provisions of Section 9 Insolvency and Bankruptcy Code, 2016 (hereinafter called "Code") read with Rule 6 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The present petition is filed before this Adjudicating Authority on the ground that the Corporate Debtor failed to make payment of a sum of Rs. 41,30,000/- and the Operational Creditor sought resolution in a sum of amount Rs. 41,30,000/- Submissions of the Financial Creditor i. The applicant, M/s Totale Gl....
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.... a final reminder letter dated 13.11.2018 requesting the respondent to pay the outstanding amount but the respondent has not paid the same. vi. Therefore, on 14.05.2019 the applicant has sent the Second Demand Notice under Rule 5 of the IBC, 2016 and the same was delivered to the Respondent on 20.05.2019. This time also the respondent has neither sent any reply to the demand notice nor paid the outstanding amount. vii. However, the respondent had not paid the outstanding amount of Rs. 41,30,000 to the applicant. Hence, this application is being filed. FINDING 3. The above mater was first listed on board on 12.09.2019. Thereafter, it was again listed on 17.10.2019. The Corporate Debtor put up appearance through their advocate, Ms. Heen....
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..... SI-CN-J18-0007. The Corporate Debtor failed to honour payment due under the invoice. 7. The Operational Creditor issued statutory demand notice under Section 8 of the code calling upon the Corporate Debtor to pay the outstanding liability. The Corporate Debtor having received of the said notice neither sent any reply nor cleared the amount. The Operational Creditor annexed the copy of the demand notice and also track report of the postal department evidencing the receipt of the demand notice by the corporate Debtor. The Operational Creditor also annexed the relevant invoices raised on the Corporate Debtor which were not honoured by the Corporate Debtor. Even after filing the above company petition, the corporate debtor did not choose to ....
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....nkruptcy Code, 2016. c. The Operational Creditor shall deposit an amount of Rs. 2 Lakh towards the initial CIRP cost by way of a Demand Draft drawn in favour of the Interim Resolution Professional appointed herein, immediately upon communication of this Order. d. That this Bench hereby prohibits 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; transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; any action to foreclose, recover or enforce any security interest created by t....