S.K. Mohapatra, Member - (1.) This is an application filed under section 9 of the Insolvency and Bankruptcy Code. 2016 (for brevity 'the Code') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rule') with a prayer to admit the company petition for initiation of Corporate Insolvency process in respect of respondent corporate debtor.
(2.) It is the case of applicant that the petitioner company M/S. M.Y. Agro Private Limited (hereafter referred as "Operational Creditor") with CIN No. U51221DL2011PTC215043 work as supplier of Rice for respondent company M/s. Amira Pure Foods Pvt. Ltd. for the last several years. It entered into a business transactions for 'supply of Rice and paddy' with respondent Corporate Debtor from February 2015 to July 2015 and supplied Rice and Paddy worth Rs. 37,21,60,517/- (Rupees Thirty-Seven Crores Twenty One Lakh Sixty Thousand Five Hundred Seventeen) to the Corporate Debtor. Copy of invoices in this regard has been attached.
(3.) It is submitted that the total payment received by operational creditor in respect of the supplies was only INR 33,85,43,883/- (Rupees Thirty Three Crores Eighty Five Lakh Forty-Three Thousand Eight Hundred Eighty-Three Only) till 26th May, 2016. The remaining unpaid amount of Rs. 33,616,634/- (Rupees Three Crore Thirty Six Lakh Sixteen Thousands Six Hundred Thirty Four only) is still outstanding from the Corporate Debtor.;