- (1.) Advocate Mr. Shiv Shankar Banerjee filed this application Under Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 contending that he is an authorised person to act on behalf of the Operational Creditor, Shaw Traders for initiating corporate insolvency resolution process Under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereafter to be referred as I & B Code) in the case of Balaji Paper and Newsprint Pvt. Ltd. the respondent herein.
(2.) The operational creditor is engaged in production and supply of diverse types and quantities of waste paper, Kraft Waste, etc. The operational creditor supplied waste paper to the respondent as per the Sales Invoice/Tax Invoice issued from 1.04.2013 to 31.03.2016 (Annexure-E). The Operational Creditor/Applicant (hereafter to be referred as applicant) contents that an amount of Rs. 74,70,165/- (seventy-four lakhs seventy thousand one hundred sixty-five) with interest @ 18% p.a. is due from the respondent and that the total amount with interest as on default due from the respondent is Rs. 92,63,005/- (Ninety-two lakh sixty-three thousand five) The applicant contents that despite repeated demands the respondent failed to repay the debt and therefore filed this application for initiating Insolvency Resolution Process as against the respondent.
(3.) The applicant filed this application in Form-5 along with copy of demand notice in Form-3 issued by an advocate. The application was filed along with copy of served notice attached to the invoice demanding payment in Form-4, a copy of Bank Statement, a copy of Ledger account, copies of Tax invoices, copy of appointment and authorisation letter dated 04.04.2017 issued to Advocate Mr. Shiv Shankar Banerjee, copy of appointment letter issued to Mr. Tapas Mallik, an IRP, copy of consent letter issued by IRP to the applicant, copy of written communication issued by IRP to the applicant, copy of affidavit verifying petition by Mr. Mohan Shaw proprietor of Shaw Traders, copy of DD proving payment of fee and Vakalatnamas. The applicant further contents that his application is complete and that he filed supplementary affidavit deposing that no notice of dispute given by the respondent to the applicant as per Section 9(3)(b) of I & B Code and produced certified bank statement as directed by this Tribunal and therefore the application is liable to be admitted.;