Ratakonda Murali, Member - (1.) The petitioner, M/s. Balaji Timber Depot, has filed this petition, which is a Operational creditor alleging that the Corporate Debtor M/s. Quetzel Furniture Systems Private Ltd., had defaulted in repaying a sum of Rs. 13,41,900/- (Rupees thirteen lakhs forty one thousand and nine hundred only) which was due for supply of timber to the Corporate Debtor.
(2.) This petition is filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking for admission of this petition, declaring moratorium on the Corporate Debtor Company, direction for public announcement of initiation of Corporate Insolvency Resolution Process and appointment of Interim Resolution Professional as prescribed under the Code and Rules therein.
(3.) The case of the petitioner/corporate debtor is that it had supplied timber to the corporate debtor basing on its purchase order dated 03.09.2015 of the value of Rs. 13,41,900/-(Rupees thirteen lakhs forty one thousand nine hundred only) . The petitioner operational creditor has filed the purchase order dated 03.09.2015. The petitioner has furnished the details of invoice and the amount due by the corporate debtor.;