P. K. Saikia, Member - (1.) This is a proceeding under Section 9 of the Insolvency & Bankruptcy Code, 2016 (in short "the Code of 2016) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (in short Rules of 2016) , filed by the Indian Refrigeration Stores, New Al ipore, 1/2, Chetla Road, Kolkata 700 053, the Operational Creditor herein, seeking initiation of Corporate Insolvency Resolution Process against Agartala Diary Foode (P) Ltd., the Corporate Debtor herein, under the code of 2016.
(2.) On receipt of the application the Registry has scrutinized the same and noticed some shortcomings therein. For ready reference, the note of the registry put up on 09-10-2017 for perusal is reproduced below:- "In the matter of Agartala Dairy Foode (P) Limited Hon'ble Member (Judicial) : In compliance with order dated 14/09/2017, the Registry had sent notice to Indian Refrigeration Stores requesting it to rectify the defects noticed by the Registry in its application. It was also requested to rectify the defects immediately and in any event not later than seven days from the date of receipt of the letter failing which appropriate orders would be passed in accordance with law. A copy of the letter has also been sent to the applicant through electronic mail on!5/09/2017 at the email provided by the applicant. From the perusal of records available with India Post website, it appears that the advocate for Indian Refrigeration Stores received the notice on 18/09/2017. The Registry has not received any further communication from the applicant on the above mentioned subject of rectification of defects noticed by the Registry in the application filed under section 7 of the Insolvency and Bankruptcy Code, 2016. Laid for kind perusal of Your Lordship and for favour of further orders. Sd/- Bulbuli Richong Registrar (l/c) 09/10/2017"
(3.) Those shortcomings were communicated to the Operational Creditor for their information and doing needful within seven days as required under the proviso to Section 9 (5) (ii) of the Code of 2016 vide order dated 14-09-2017 of this Tribunal. For ready reference, the order dated 14-09-2017 is reproduced below:- "ORDER Date: 14.09.2015 This application under Section 9 of the Insolvency and Bankruptcy Code 2016 (in short, the Code 2016) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 (in short, Rule 2016) has been initiated by Indian Refrigeration Stores, (in short OC) seeking initiation of corporate insolvency resolution process against Agartala Diary Food Private Limited (in short CD) under the Code 2016. It has been alleged that OC had entered into 2(two) purchase orders with CD upon latter's acceptance of 2(two) quotations for supply of 22 Filled Industrial Gas Cylinders with Caps. Under the accepted quotations, CD was to return the said cylinders within 30 days of supply failing which detention charges would be imposed upon the CD as per the terms of the said quotations agreed upon by the parties thereto. However, despite repeated reminders from the side of OC, the CD failed and/or . neglected to return a total of 21 cylinders under purchase order No.40636. Ultimately, CD returned the said 21 cylinders on 29th September, 2015 and, therefore, chargeable _ days from the date of supply became 981 days. But CD had failed to make payment towards detention charges and, therefore, as on 22 May, 2017, an amount of INR 1,91,520/- becomes due to the OC.;