K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by M/s. CMI Energy India Private Limited (in short, 'Petitioner/Operational Creditor') against M/s. Easun Reyrolle Limited (in short, 'Respondent/Corporate Debtor') under sections 433(e) and (f), 434(i)(a) and 439(i)(b) of the Companies Act, 1956 before the Hon'ble Madras High Court which has been transferred to this tribunal pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016. Now, pursuant to the Central Government Notification number GSR 119(E). dated 07.12.2017, this petition needs determination as per the provisions of the Insolvency and Bankruptcy Code, 2016 (In short, 'IB Code, 2016'). Before proceeding with this matter, this Adjudicating authority feels that it would be proper to make a note of background facts for the purpose of determination of this petition.
(2.) The petitioner was earlier known as Navratna Energy Cable Private Limited subsequently changed to Plaza General Cable Energy Private Limited and then to General Cable Energy India Private Limited and now its present name CMI Energy India Private Limited with effect from 09.03.2017 and copies of the fresh Certificate of Incorporation Consequent on Change of name have been filed with Form-5 as Annexure A1 to A4.
(3.) Shri Shankarnarayana, the learned counsel appearing on behalf of the respondent submitted that the Petitioner is engaged in the business of manufacturing cables and the respondent had placed various purchase orders during the year 2012-13 for the supply of cables to its project sites. The Petitioner had supplied the cables as per the purchase orders and also raised invoices towards the value of the same. Towards supplies, the respondent was also required to furnish required C-Forms as per the then Central Sales Tax Act but the same were not furnished.;