Jinan K.R., Member - (1.) The applicant Trilok Infracon (India) Private Limited filed this application under section 9 of the insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency 8s Bankruptcy (Application to Adjudicating Authority) rules, 2016 for initiation of corporate insolvency resolution process against the corporate debtor, M/s. Forbesgunj Food Processing Private Limited (Corporate Debtor).
(2.) The brief facts of the case, as given in Part-IV Form-5, that the operational creditor and the corporate debtor had entered into an agreement by virtue of a letter dated 4th January 2013 for the construction of a warehouse on the said land measuring upto 8800sq.ft. However, in pursuance of the terms and conditions of the agreement, the operational creditor commenced work at the site. On the basis of the agreement advance payment of 50% of total consideration of the quoted sum of Rs.57,18,810/- to be made. However, an advance payment of Rs. 10,00,000/-received by Cheque no. 82752 dated 28th February 2013. That sum of Rs.43,06,187/- (Forty-Three Lacs Six Thousand One Hundred Seven Only) is the amount due as given in Form 5 Part V. It is the amount due for which the operational creditor has filed this application.
(3.) The petitioner has stated that on On 22nd July, 2013 the corporate debtor had issued a cheque of Rs. 10,00,000/- bearing No. 82764 which subsequently got dishonoured on 24th July 2013. - On 24th August 2013 another cheque was issued of Rs. 10,00,000/-bearing cheque No. 82763 which stood dishonoured as on 26th August 2013.;