2022 (4) TMI 1472

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....y 'the Rules') by M/s. Rudra Buildwell Constructions Pvt. Ltd. (for brevity 'Operational Creditor') with a prayer to initiate the Corporate Insolvency process against M/S PSA Impex Private Limited (for brevity 'Corporate Debtor'). 2. The Operational Creditor/Applicant submits that the applicant started supplying material to the corporate debtor and in pursuance of that, the applicant raised invoices from 11.06.2019 to 31.05.2021, totalling a sum of Rs. 3,41,22,413/-. The applicant submits that the corporate debtor had confirmed and given an undertaking as full and final payment made on their own letterhead for confirming the debts wherein the stamp of the corporate debtor company has duly been placed. 3. The Operat....

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....ebtor has neither raised any dispute to the aforesaid notice nor made any payment towards the outstanding dues. 5. The Operational Creditor filed the present application on 24.12.2021 under section 9 of IBC, 2016 and served the copy of this application through email at the registered email address as reflected on the MCA website, which was duly delivered to the corporate debtor. The copy of the Application was also duly served through speed post at its registered address as reflected on the MCA website, which was duly delivered reflecting the remark 'Item Delivery Confirmed'. 6. The Corporate Debtor has neither filed any reply nor appeared before the Bench. The Corporate Debtor was proceeded ex-parte on 22.03.2022. 7. As per Form....

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....hat the date of default in the present petition will be considered as 03.06.2021 instead of 31.03.2020. Hence, the present petition is not hit by Section 10A of IBC, 2016 and is maintainable. 9. The debt is due and payable both in fact and in law. 10. It is seen from the records that notice of default under Section 8 has been delivered and an affidavit dated 24.12.2021 under Section 9(3)(b) of IBC has also been filed affirming that no notice of dispute has been given by the corporate debtor relating to dispute of the unpaid operational debt. The applicant has also filed an affidavit under section 9(3)(c) dated 24.12.2021 affirming that the applicant has not received any amount after serving of demand notice till date and a certificate fro....

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....irect the Operational Creditors to deposit a sum of Rs. 2 lacs with the Interim Resolution Professional, namely Mr. Prabhat Ranjan Singh, to meet out the expense to perform the functions assigned to him in accordance with regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within one week from the date of receipt of this order by the Operational Creditor. The amount however be subject to adjustment by the Committee of Creditors, as accounted for by Interim Resolution Professional, and shall be paid back to the Operational Creditor. 16. As a consequence of the application being admitted in terms of Section 9(5) of IBC, 2016, moratorium as ....