- (1.) This is an application filed by M/s. Sonitech Travels Co. a proprietorship Firm, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016 (for brevity 'the Rules') for initiation of Insolvency Resolution Process in respect of Respondents No. 1 to 9.
(2.) The applicant has submitted in its application that all the corporate debtors approached the applicant and represented to be desirous of working and dealing with the applicant to get transportation/travel services of the applicant. It is stated that the corporate debtor No. 1-9 are jointly and severally liable to pay the amount due as claimed in the application. The applicant has clarified that the corporate debtor No. 2 to 5 are the directors of the Corporate debtor No. 1 and corporate debtor No. 6 to 9 are authorized signatories and signed the cheques to discharge their legal liability of the corporate debtor No. 1. Accordingly it is contended that all the parties are jointly and severally liable to pay the amount to the applicant.
(3.) In column 1 of Part-II of Form-5 all the 9 respondents have been described as the corporate debtors. This is not the forum to adjudicate and quantify as to what amount is due and payable to the applicant. This is also not the forum to determine the extent of liability of the respondents. Secondly any application lodged under Section 9 in Form-5 can only be against a single Corporate Debtor, as appears from Column-I of PART-II of relevant Form-5. Therefore application under Section 9 against more than one debtor is not maintainable under the Code.;