2021 (2) TMI 1199

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....cant: Rakesh Mohan Sharma, PCS ORDER Rajeswara Rao Vittanala, J. 1. C.P. (IB) No. 119/BB/2020 is filed by M/s. Dyanamic Engineers Limited ('Operational Creditor'), U/s. 9 of the IBC, 2016, R/w Rule 6 of the I&B (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s. Muhlenbau Equipment....

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.... (3) The Corporate Debtor placed a purchase order with the Operational Creditor for supply and commissioning of automation and control system after greeting upon the terms of the offer made by Operational Creditor, including the technical specifications and pricing. The Corporate Debtor, as per the terms of contract, paid Rs. 6,60,000/- as an advance. The Operational Creditor made all the su....

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....g the Corporate Debtor to clear the outstanding unpaid amount within stipulated time. Despite receiving notice in Form-3, the Corporate Debtor neither made the payment till date nor even sent any reply to the said notice. Hence, this clearly reflects that the Corporate Debtor is not in a position to make any payment. 3. Heard Mr. Rakesh Mohan Sharma, learned PCS for the Petitioner and None appe....

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.... as against two invoices dated 09.12.2016 for an aggregate amount of Rs. 37,86,750/-, the Respondent paid part-payment of Rs. 18,06,773/- and another part-payment of Rs. 5 Lakh in June 2017 with an assurance to clear the remaining balance amount shortly but failed to do so. Therefore, the Petitioner, after waiting for a long time, has issued demand Notice only on 13.11.2019, under provisions of Co....