2021 (3) TMI 1247

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....cision Hydraulics Private Limited for initiation of Corporate Insolvency Resolution Process ("CIRP") against the Corporate Debtor i.e., M/s. Bhairavi Cargo & Logistics Pvt. Ltd. The Registered Office of the Respondent Company is at No.40, Officer Lane, Pallavaram, Chennai- 600 043. It falls under the jurisdiction of the NCLT, Chennai. 2. The Applicant Company in the course of the business engaged the Respondent Company for transfer / sale of Merchant Export Incentive Scheme Licenses issued by the Director General of Foreign Trade, Ministry of Industry and Commerce, Government of India. The details of which are listed as below: License No. Date Amount 3819007106 12/07/2018 31,73,328 3819007255 20/07/2018 8,96,48....

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....standings between the beth parties, the licence numbers supra had been transferred / sold and the entire payment of Rs. 1,07,03,939/- was credited into the account of one of the directors of the Operational Creditor who was liaising with the Corporate Debtor. There also appears to be various meetings and discussions between the Applicant and the Respondent herein. Thereafter, in the legal notice, the Corporate Debtor has claimed a sum of Rs. 12,02,995/- as amount due and payable by the Operational Creditor to the Corporate Debtor. In response to this legal notice, the Operational Creditor has also issued reply notice dated 15.11.2019. This application under [BC was filed subsequent to the legal notice and the reply notice i.e. on 30.12.2019....