R P Nagrath, Member - (1.) Ms. Rrtu Bhalla, Advocate with Mr.Sumit Jain and Siddnant Kant, Advocates for petitioner.
(2.) This petition is filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. Learned counsel forthe petitioner inter-alia, contends that the copy of petition along with entire paper book was sent to the Corporate Debtor by registered post on 28.06.2017 and the original postal receipt is attached on the index of the paper book. The learned counsel would further submit that as per the track report, the postal article was delivered to the respondent on 30.06.2017. 2. Learned counsel submits that the Bank has passed a circular resolution dated 24.06.2017 authorising the General Manager and the Deputy General Manager of the Bank to execute the special power of attorney in favour of the Branch Heads/Branch Managers to initiate the insolvency resolution process under the Insolvency & Bankruptcy Codej 2016. The special power of attorney, which is part executed by the General Manager and Deputy i. General Manager of the Bank in favour of Mr.Ravish Nayak through whom the instant petitbn has been filed The application has been filed in Form No.1 of the IB Code, 2016 and the contents thereof are supported by the affidavit of Mr.Ravish Nayak. The corporate debtor is stated to have committed default of Rs. 824 crores of the debt.
(3.) Having heard the learned counsel for the petitioner and perusal of the record, it is noticed that Form No.2 i.e. the written communication submitted by the interim resolution professions] is not in proper format, as clause (vj) thereof does not contain the complete particulars. The notice of this defect to the petitioner and learned counsel for the petitioner has accepted the notice of said defect. Let this defect be removed within seven days and the fresh communication in Form No.2 be filed in the format which is being accepted by this Tribunal, as discussed. The petition be listed for arguments on 20,07.2017. Notice of the petition to the respondent for 20.07.2017 at its registered office.;