R.P. Nagrath, Member - (1.) This petition has been filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 (for short to be referred here-in-after as the 'Code') in Form No.5 as prescribed under Rule 6(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity the 'Rules').
(2.) The petitioner is a company incorporated under the Companies Act, 1956. This petition has been filed by the Operational Creditor through Mr.R.C.Rahlan, Director of the Company, who has furnished his affidavit in support of the contents of the application. Mr.Ralhan has been authorised to file the application and to do all the necessary acts on behalf of the company against the Respondent-Corporate Debtor under the Code, vide resolution dated 27.05.2017 Annexure VII. Vide the same resolution, the company has authorised M/s Saxena and Saxena Law Chambers, Advocates to represent the company in the application with further authority to issue legal notice to the Corporate Debtor in terms of Section 8 of the Code.
(3.) Before filing the application in Form No.5, the petitioner sent a demand notice dated 27.05.2017 in Form No.3 as prescribed in Rule 5 of the Rules. This notice was sent by speed post on 29.05.2017. Copy of the demand notice along with the documents annexed thereto, is at Annexure I (Colly) pages 24 to 463 of the paper book. The documents attached with the demand notice are the contract/agreement; copies of the three supplementary contracts/agreements between the parties; copy of the ledger account of the Respondent-Corporate Debtor being maintained in the books of account of the petitioner and copy of the computation chart for calculation of the default. The demand notice was also sent to the Respondent-Corporate Debtor vide email dated 30.05.2017 Annexure II (Colly).;