TaxTMI 
TaxTMI 
TaxTMI 
2022 (11) TMI 156
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....for short hereinafter referred to as the 'corporate debtor/respondent'). The present petition has been filed in Form 5 as prescribed in Rule 6 (1) of the Rules. The petition is supported by affidavit of Mr. Raminder Pal Singh, Director of the operational creditor, who has been authorized vide Board Resolution dated 07.11.2019 (Annexure A-6). 2. The corporate debtor, namely, Horizon Metaltech Private Limited, is a company incorporated on 07.02.2006 under the Companies Act, 1956, having CIN U27100HP2006PTC029661 and its registered office is at 64 MIG, House Sector 1, Parwanoo, Solan, Himachal Pradesh, -173220. Therefore, the matter falls within the territorial jurisdiction of this Adjudicating Authority. Copy of master data of the corporate debtor is at Annexure A-9 of the petition. 3. The brief facts, as stated in the petition, are that the operational creditor, inter alia, is involved in the manufacturing of alloy steel and is North India's largest alloy steel plant with installed capacity of over 2 Lakh metric tons per annum and has been supplying to the respondent/corporate debtor alloy steel for manufacture of the products. It is also stated that operational creditor supplied ....
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....) to the respondent/corporate debtor on its registered e-mail, as available in the portal of the MCA, which has been delivered and the same has not bounced back. However, after service of the demand notice on the respondent/corporate debtor, neither any payment has been received from the respondent/corporate debtor nor any reply has been received. Moreover, no notice has been given by the respondent/corporate debtor relating to the existence of dispute or any record of pendency of any suit or arbitration proceedings filed before the receipt of such notice in relation to such dispute. 6. On 20.02.2020 notice of this petition was also issued to the respondent/corporate debtor to show cause as to why the petition be not admitted. The petitioner/operational creditor filed affidavit of service vide Diary No.1954 dated 12.03.2020, wherein it has been deposed by learned counsel for the petitioner/operational creditor that he had served notice to the respondent/corporate debtor alongwith copy of petition on 28.02.2020 by speed post and the same was delivered on 02.03.2020. Further it has been deposed that the notice was also sent through e-mail. Copy of original postal receipt, tracking r....
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....application has been filed within limitation. 12. We have gone through the contents of the application filed in Form 5 and find the same to be complete. As discussed above, there is a total unpaid operational debt of Rs.5,59,673/-plus interest @ 24% p.a. as per Annexure A-3, amounting to Rs.34,592/- as claimed in the petition. As noted above, the operational creditor has provided the details of the debt due and has also annexed with the petition copy of ledger account statement, and invoices. Accordingly, the petitioner/operational creditor has established the debt and the default, which is more than Rupees one lakh i.e. the threshold limit (pre-revised). 13. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. It is evident from the above-mentioned facts that the liability of the corporate debtor is undisputed and established. Also, there is no rebuttal to the claim filed by the petitioner as respondent/corporate debtor chose not to appear. Accordingly, the petitioner has proved the debt and the default which is above threshold....
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...., E-mail: [email protected], Mobile No.7888496109, as the Interim Resolution Professional in the matter of M/s Horizon Metaltech Private Limited, whose name appears at Serial No.33 of the list provided by the Insolvency and Bankruptcy Board of India, which is valid till 31.12.2022. The Law Research Associate of this Tribunal has checked the credentials of Ms. Pooja Damir Miglani, from the online database provided by the IBBI and there is nothing adverse against him. The following directions are passed with respect to the Interim Resolution Professional: - i.) The term of appointment of Ms. Pooja Damir Miglani shall be in accordance with the provisions of Section 16(5) of the Code. The Interim Resolution Professional is directed to file his written consent in Form-2 within one week of this order; ii.) In terms of Section 17 of the Code, from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the Corporate Debtor shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are ....