2021 (9) TMI 747

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....vate Limited (for brevity 'Applicant'), with a prayer to initiate the Corporate Insolvency Resolution Process against M/s. India Sports Flashes Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant is a private limited company, incorporated under the provisions of Companies Act, 1956, inter alia engaged in the business of tour & travel services, having its CIN U63000DL2011PTC213440 and its registered office at N-63, Main Market Kirti nagar, New Delhi-110021. 3. The Corporate Debtor is a private limited company, incorporated under the provisions of Companies Act, 1956 on 01.08.2016 bearing CIN U22219DL2016PTC303793 and having its registered office at 70-A/23, Third Floor, Rama Road, Industrial Area, Najafgarh R....

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....td. in minimum 10 days (Ten Days) post submission of invoices b. For all group bookings the full remittance should be paid prior to departure. c. That any disputes arising from any discrepancies in regards to the KDH Travels Pvt. Ltd.'s billing, shall be referred to KDH Travels Pvt. Ltd. prior to the deduction of the amount involved. d. All Bank charges shall be borne by INDIA SPORTS FLASHES PVT. LTD. If the payments due by INDIA SPORTS FLASHES PVT. LTD. is not made, In such an event it is deemed that INDIA SPORTS FLASHES PVT. LTD. has committed breach of the agreement at New Delhi and INDIA SPORTS FLASHES PVT. LTD. will pay additional Rs. 500/- for each pending Invoice per day till final settlement of Payment." 6. The applican....

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....il, as reflected on the MCA website, which was duly delivered to the corporate debtor. The affidavit of service is filed along with the proof of service. 9. The Corporate Debtor has neither filed any reply nor appeared before the bench. The corporate debtor was proceeded ex-parte on 07.07.2021. 10. As per Form V, Part IV, the Corporate Debtor is liable to pay an outstanding sum of Rs. Rs. 6,91,594/- along with interest @ 24% p.a. of Rs. 1,25,161.94/-. 11. The date of default as per part IV, has occurred from the expiry of ten days of receipt of Invoice & the date of receipt of the last invoices was on 08.04.2019. The present application was filed on 04.02.2020, hence the debt is not time barred and the application is filed within the per....