2019 (8) TMI 1813

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.... Code) against Trans-Fab Power India Private Limited, Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). 2. This application is filed by Mr Tanmay S Patil, Director of the Applicant Company, who is duly authorised to do the same vide authorisation dated 13.08.2018. 3. The Applicant supplied transformer Lamination, to the Corporate Debtor for which, the applicant claims a sum of Rs.7,00,020/- (Rupees Seven Lakh and Twenty only) as outstanding on 14.10.2016. 4. The Applicant submits that the invoice dated 21.11.2015 for a sum of Rs.14,20,466/-(Rupees Fourteen Lakh Twenty Thousand Four Hundred Sixty Six only) was raised against the Corporate Debtor for the materials supplied by the Applicant. A copy of th....

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....018, and the same was received by the Corporate Debtor on 24.12.2018. The affidavit of service of the petition is filed on 04.01.2019 with this Bench. But the Corporate Debtor chose not to make any representation before this Tribunal. No objection has been raised by the Corporate Debtor to date, despite service of Court Notice and after providing ample opportunities. 10. On perusal of the documents submitted by the Applicant, it is clear that debt amounting to Rs.7,00,020/-(Rupees Seven Lakh Twenty only) is due and payable by the Corporate Debtor to the Applicant against the invoice dated 21.11.2015 for goods supplied. The outstanding debt is acknowledged by the Corporate Debtor vide its email dated 24.02.2016 by assuring to clear the du....

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....proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any activity 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 possession of the corporate debtor. II. Tha....