R. Varadharaian, Member - (1.) This Petition is filed by the petitioner claiming to be the Operational Creditor as against the Respondent Company/Corporate Debtor. The claim, it is represented by the petitioner arises out of it being an outsourced Service Provider for employing supplementation in the Corporate office of the Corporate Debtor.
(2.) The Petitioner further avers that the relationship between the parties are governed in terms of the Agreement entered into between the parties on 25.8.2014. He further submitted that under the Agreement, Invoices raised were required to be paid within a period of 30 days from the date of such invoice being raised as was the case between July, 2014 to April, 2015 though there had been some delay on several occasions in relation to payments. However, in relation to May, 2015, Invoice in a sum of Rs.26,38,811/- dated 08.6.2015 was raised which was required to be paid in full. However, only a part payment has been made and a sum of Rs.8,28,394/- is due and payable on the part of the Corporate Debtor.
(3.) Despite several reminders, the Respondent/Corporate Debtor it is contended by the petitioner has not paid the balance payment and under the circumstances, the Operational Creditor was forced to issue a notice under Section 8 of the Insolvency & Bankruptcy Code, 2016 (IBC) 2016 on 06.2.2017 demanding the payment of unpaid balance amount in a sum of Rs.8,28,394/-and it is averred that the said notice was dispatched to the Corporate Debtor by the petitioner by 'Speed Post' as evidenced vide receipt dated 07.2.2017.;