Ravikumar Duraisamy, Member - (1.) This Petition has been transferred from Hon'ble High Court of Judicature at Bombay consequent upon the notification issued by the Ministry of Corporate Affairs, dated 07.12.2016. The said Petition was filed under Section 433(3) of the Companies Act, 1956. Subsequent to transfer of this petition from the Hon'ble High Court of Bombay this case was listed on 21.04.2017. The Registry was also directed on 14.06.2017 to issue notice to the Petitioner for necessary compliance as prescribed under the IBC 14.06.2017 and the case was listed for hearing on 22.06.2017. On the day the Ld. Counsel for the Petitioner was present and submitted that a huge amount of debt is in stake and due to non-availability of the Petitioner who was travelling abroad, the requisite Form could not be filed on or before 14.06.2017 and sought permission to submit Form 5 under the provisions of IBC. The request of the Petitioner was considered positively and the Petitioner was allowed to file Form 5 on or before 27.06.2017 and the case was listed for hearing on 30.06.2017. On 13th July 2017 the Petitioner confirmed that a notice of demand and requisite form have been served on 05.07.2017 on the Corporate Debtor/Respondent Company. Advocate for the Respondent Company also undertook to file Vakalatnama. The matter was adjourned to 24.07.2017. Again, when the matter was listed on 24.7.2017 Ld. Counsel from both the sides were present. The Ld. Counsel for Respondent sought time to file its reply. The Bench sought a clarification from the Respondent as to under which provision the time can be extended to the Corporate Debtor and the matter was adjourned to 26.07.2017.
(2.) This is a Petition filed under section 9 of IBC 2016 by the Operational Creditor namely Fine Jewellery (India) Ltd. against the Corporate Debtor namely Nascent Jewellery Pvt. Ltd. The Operational Creditor filed Form No. 5 dated 20.06.2017 claiming an amount of Rs. 6,10,92,761/-. The Operational Creditor has submitted necessary proof to substantiate its claim like invoices, Bank statement issued by Bank of India, Seepz Br., ING Vysya Bank, Andheri (E) Branch, and State Bank of India, SEZ Branch, Mumbai.
(3.) The Consul for the Petitioner has also submitted affidavit of service of Form 5 on the Corporate Debtor vide e-mail dated 08.07.2017 and the said e-mail was also delivered to the Directors of the Corporate Debtor namely Mr. Anant Prabhudesai and Mr. Ariez Rustam Tata in response to the delivery of Form No. 5, the Corporate Debtor was represented through its Counsel.;