TaxTMI 
TaxTMI 
2022 (1) TMI 452
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.... Pisces Exim India Private Limited (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 Principal sum of Rs. 18,73,267.04/- (Rupees Eighteen Lacs Seventy Three Thousand Two Hundred Sixty Seven and Zero Four Paisa Only) together with interest of Rs. 7,14,514.30/- @ 18% per annum aggregating to R....
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.... was issued. iii. Services for repairing of Transmission of Caterpillar Make Model 950H machine Serial No. D1N01621 rendered as requested by mail dated 21st January, 2016 and Invoice No. 2015-16/9023401149 dated 30th January, 2016 amounting to Rs. 1,71,759/- (Rupees One Lakh Seventy-One Thousand Seven Hundred Fifty only) was issued. iv. Further, as requested invoice was raised for various services dated 10th February, 2016 being Invoice No. 9016106466 dated 10th February, 2016 amounting to Rs. 11,440.84/- (Rupees Eleven Thousand Four Hundred Forty and Eighty Four Paise only). v. Further, as requested invoice raised for various services dated 10th February, 2016 being Invoice No. 9016106487 dated 10th February, 201....
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....the Operational Creditor had sent a Demand letter dated 30th May, 2017 to the Corporate Debtor addressed at its registered office at Goa and also to its office at Orissa and Mumbai. Thereafter, the Corporate Debtor vide email dated 18th May, 2016, the Corporate Debtor admitted that there were outstanding dues payable by the Corporate Debtor. e. The Operational Creditor sent Demand Notice under Section 8 of the Code in Form 3 dated 12.04.2018. The Operational Creditor submits that the notice could not be served at the registered office of the Corporate Debtor and the tracking details showed the status as "Addressee Moved" but the Ministry of Corporate Affairs website showed the address as the registered address of the Corporate Debt....
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.... b. Since the Corporate Debtor has not appeared before this Bench, it is presumed that there is nothing much to say in defence. FINDINGS 5. We have heard the submissions of the Counsel appearing for the Operational Creditor. It is seen from the records that this Tribunal had given sufficient chances to the Corporate Debtor to file its Reply. However, the Corporate Debtor failed to appear and did not file its Reply. This act itself shows that the amount is due and payable to the Operational Creditor. 6. Further it is seen from the records that the Operational Creditor had also carried newspaper publication in Nav Shakti (Marathi) and Free Press Journal (English) on 19.03.2019 and also on 27.09.2019 thereby setting out the next dat....
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....018 is hereby admitted and initiation of Corporate Insolvency Resolution Process (CIRP) is ordered against Pisces Exim India Private Limited. b. This Bench hereby appoints Mr. Abhijeet Jain, Insolvency Professional, Registration No: IBBI/IPA-002/IP-N00173/2017-18/10445 as the Interim Resolution Professional, to carry out the functions as mentioned under the Insolvency & Bankruptcy 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....