Mohd Sharief Tariq, Member - (1.) Under adjudication is CP/637/(IB) /CB/2017 that has been filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 (in short, 1&B Code, 2016') r/w the Insolvency 8s Bankruptcy (Application to Adjudicating Authority Rules, 2016) . The prayer made is to admit the Application, to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor, declare moratorium and appoint Interim Resolution Professional (IRP) under the I&B Code.
(2.) Heard the representative for the Operational Creditor and Counsel for the Corporate Debtor and perused the record.
(3.) It is submitted by the representative for the Operational Creditor that the claim is made on the basis of the services that have been rendered by the Operational Creditor vide Work Order dated 28.03.2014, the copy of which is placed at page 21 of the typed set filed with the Application. The assigned work has been completed but some payments have not been made to the Operational Creditor. It is on record that the Operational Creditor has supplied and installed 90 Nos. of Fire Rated Doors at the factory of the Corporate Debtor which have been accepted by the Corporate Debtor. The notice of demand was issued by the Operational Creditor on 18.02.2017 which is placed at page 7 of the typed set filed with the Application, wherein an amount of Rs,8,97,659/- was claimed along with interest @ 18% as reflects from the annexure-1 to the notice, which is placed at page 10 of the Application. The Corporate Debtor has not given any reply to the Notice. The Operational Creditor has also complied with the provisions of Section 9 (3) (b) and (c) of the I & B Code, 2016. The Affidavit is placed at page 36 of the typed set filed with the Application, wherein it is stated that no notice of dispute has been given by the Corporate Debtor for the unpaid operational debt. The Bank Statement is also placed in the additional typed set filed with the Application, which is certified by M/s. Kotak Mahindra Bank.;