TaxTMI 
TaxTMI 
2022 (6) TMI 494
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....ating Authority) Rules, 2016 (for brevity 'the Rules') on 03.05.2019 through Mr. Dinesh Vyas, Proprietor of Shrimali Alloys (for brevity 'Applicant') with a prayer to initiate the Corporate Insolvency Process (CIRP) against KRN Alloys Private Limited (for brevity 'Corporate Debtor'). 2. The applicant is a proprietorship firm having its office at Shop No. 15, Plot No. 397, Ward 12B, Gandhidham, Kutch engaged in supply of imported steam (non-cooking) Coal of Indonesian origin. 3. The corporate debtor is a company limited by shares, incorporated under the provisions of Companies Act, 1956 on 09.04.2008 duly registered with Registrar of Companies, Ahmedabad, Gujarat State with CIN: U63011GJ2001PTC040311, having registered office at Jimmy ....
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....ter dated 21.03.2019. 6. The applicant filed application under Section 9 of the IB Code. As per Part IV Form 5 an amount of Rs. 3,31,30,538/- (Rupees three crore thirty-one lacs thirty thousand five hundred thirtyeight only) with further interest of Rs. 58,57,332/ (Rupees fifty-eight lacs fifty-seven thousand three hundred thirty-two only) calculated @ 12% per annum from the due date of respective invoices till the date of issuance of the statutory demand notice, is due and payable to the applicant by the corporate debtor. 7. Corporate Debtor filed affidavit in reply inter alia stating that: The person who has signed the application is not properly authorised; No amount is legitimately payable to the applicant; ....
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....suance of form 3; 8. The applicant filed rebuttal documents and submitted copy of PAN card and licence. It is further stated that even if it is assumed that the applicant is involved in GST evasion, then there is a specific and separate law to deal with the same and the applicant will face the consequences arising out of the same. 9. Corporate debtor filed written submission inter alia stating that: A comparison of account statements submitted by both the parties would show that Invoice No. SA/18-19/200 for Rs. 7,90,086/- is reflected in the books of the corporate debtor whereas said invoice is not reflected in the books of the applicant. Affidavit in reply would show that the proprietor of applicant firm Mr. Dinesh ....
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....r as the applicant is concerned, net receivables by the corporate debtor would be Rs. 11,00,000/- The applicant had sent incorrect accounts by email dated 30.11.2018, 06.12.2018 and 13.12.2018 requesting the corporate debtor to confirm the same. In reply, vide email dated 14.12.2018, the corporate debtor had denied to accept the said accounts, thus, raising a bona fide dispute prior to notice. Form No. 5 of the application is signed by one Mr. Chandan Dave who is authorised to file the application whereas the demand notice is signed by proprietor of the applicant firm. 10. Registered office of the corporate debtor is situated in Rajkot, Gujarat State and, therefore, this Tribunal has jurisdiction to entertain and try th....
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.... the debit notes are entered in the ledger account based on which the Goods & Service Department had issued two different show cause notices to the corporate debtor demanding differential input-tax credits availed on the basis of the invoices of the applicant. Further, the applicant had sent incorrect accounts by email dated 30.11.2018, 06.12.2018 and 13.12.2028 asking the respondent to confirm the same. The corporate debtor had categorically denied to accept the said accounts and in reply to various emails of the applicant, corporate debtor had raised dispute dated 14.12.2018 which reads as under: "Balance not confirmed" The said email is prior to issuance of notice under Section 8 of the Code. The corporate debtor had also raised di....