Bikki Raveendra Babu, Member - (1.) Learned Advocate Ms. Tanya Shah present for Operational Creditor/Applicant. Learned FCA Mr. Ramubhai Patel with Learned Advocate Mr. Monaal Davawala present for Respondent. Order pronounced in open Court. Vide separate sheet. M/s. Futuristic Marketing Solutions filed this application seeking Corporate Insolvency Resolution under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "the Code") read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred to as "the Rules").
(2.) The facts, in brief, that led the applicant-operational creditor to initiate the present proceedings are as follows:-
(3.) Shree Rama Multi-Tech Limited (hereinafter called as "the respondent or corporate debtor") had placed order with M/s. Futuristic Marketing Solutions (hereinafter called as "the applicant or operational creditor") for supply of aluminium foils of different specifications vide Purchase Order No. P0003753 dated 9th July, 2014. Pursuant to the said order, the applicant supplied aluminium foils of the value of Rs. 14,17,384/- as per Invoice No. 14-15/025 dated 11th July, 2014. The respondent acknowledged the delivery of the material in a good condition, as is evident from corresponding Challan No. 14-15/025. The respondent again placed another Purchase Order No. P0003911 dated 1st August, 2014, which was also duly supplied to the respondent as against Invoice No. 14-15/035 dated 8th August, 2014. The respondent also acknowledged the said material in good condition, as is evident from Challan No. 14-15/035. In all the applicant supplied goods/material in the months of July and August, 2014 totalling to INR 15,58,676/-. The respondent accepted the goods without any objection or complaint as to quantity, quality or technical specifications.;