TaxTMI 
TaxTMI 
2021 (11) TMI 183
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...., 2016 by M/s. Gagan Fibres Pvt. Ltd. (for brevity 'Operational Creditor'/'Petitioner'), through its Director Mr. Kishan Singh Makkar with a prayer to initiate Corporate Insolvency Process (CIRP) in case of Sohrab Textile Mills Ltd. (for brevity 'Corporate Debtor'/'Respondent'). There is an affidavit of Mr. Kishan Singh Makkar, Director of the Operational Creditor in support of the contents of the application dated 16.11.2020 from Page No. 15-17 of the petition. The Board Resolution dated 09.11.2020 authorising Mr. Kishan Singh Makkar to represent the company in the present application is attached at page 174 of the petition. 2. The Corporate Debtor namely, Sohrab Textile Mills Private Limited, is a Company ....
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.... along with the relevant postal receipts are stated to be served upon the corporate debtor by speed post on 01.10.2020 and e-mail on 24.09.2020. The demand notice was accompanied by statement of accounts of corporate debtor & copy of invoices. The corporate debtor vide the demand notice was called upon to repay the total unpaid operational debt of Rs. 2,48,21,744/- within 10 days. Copies of the Demand Notice, postal receipts, tracking report as well as proof of service have been attached as Annexure P-5 (colly) of the application from page 42-73. 5. Notice of this petition was issued to the corporate debtor on 03.03.2021 to show cause as to why this petition be not admitted. Learned counsel for the respondent Mr. Bhavin Aggarwal while acce....
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....at notice was not delivered with the remark "Dispatched to BO". As per tracking report for consignment number EP584068825IN, it is seen that the notice was delivered with the remark "Item delivery confirmed" on 01.10.2020. It is also observed that the petitioner has sent the demand notice vide email dated 24.09.2020 to the e-mail address provided by the corporate debtor in the company Master Data which has not bounced back. In view of the same, it is held that the demand notice has been duly served. 9. The next issue for consideration is whether the operational debt was disputed by the corporate debtor. It is deposed by the operational creditor in their affidavit dated 16.11.2020 attached at Page Nos. 170-173 of the petition that the corpo....
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....corporate debtor and raised invoices from 09.12.2014 to 03.10.2016 attached as Annexure P-2 (colly). Table of computation showing the calculation of outstanding debt amounting to Rs. 2,48,21,744/- is found at Annexure P-4 of the petition. It could be seen that the operational creditor has sent the demand notice in Form-3 and Form-4 vide e-mail dated 24.09.2020 for the payment of outstanding dues attached at page 73 of the application along with postal receipt and tracking report of duly served legal notice attached at Page 72 of the petition. The same demand notice has also been stated to be delivered via e-mail dated 24.09.2020 and which has not bounced back. Ledger account of corporate debtor maintained by operational creditor is found at....
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....interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) The recovery of any property by an owner or lessor, where such property is occupied by or in the possession of the corporate debtor. (e) It is further directed that the supply of essential goods or services to the corporate debtor as may be specified, shall not be terminated or suspended or interrupted during moratorium period. (f) The provisions of Section 14(3) shall however, not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator and to a surety in a contract ....