Jinan K.R., Member - (1.) The Operational Creditor has filed the present application for initiation of Corporate Insolvency Resolution Process in respect of Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code, 2016.
(2.) The petitioner, operational creditor namely Badjate Stock & Shares Pvt. Ltd. has filed an application Under Section 9 read with Rule 6 of the Insolvency and Bankruptcy Code 2016 for (hereinafter called as "Code") initiating Insolvency Resolution Process against the respondent Company/ Corporate Debtor Snowblue Trexim Private Limited, claiming that the respondent defaulted in making payments to the tune of Rs.4,72,45,685.13 (Rupees Four crore seventy two lakh forty five thousand six hundred eighty five and paise thirteen) including interest as on June 2017 and the claim is within the period of limitation and well within the jurisdiction of this Bench.
(3.) The Petitioner/Operational Creditor is engaged in the business of providing Stock Broking Services and other financial services including equity Investments, Futures and options, Commodity Trading, Currency Trading, Mutual Funds, Company Deposits, Bonds and Insurance. Petitioner has submitted that at the request of the respondent/Corporate Debtor, the petitioner provided the said services to a corporate debtor which is marked and annexed as Annexure-'A-4' as proof of rendering services by the corporate debtor.;