R.P. Nagrath, Member - (1.) The petitioner company incorporated under Companies Act, 1956 having its registered office at F-213/A, First Floor, Lado Sarai, New Delhi-110030 filed the instant petition as an operational creditor to initiate Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short to be referred hereinafter as the Code) The Operational Creditor has passed a resolution dated 09.05.2017 (Annexure III) authorising any of the Oirector of the company to jointly or severally file application in the National Company Law Tribunal with regard to the recovery of outstanding dues of Rs. 1.50.47.525/- against the Corporate Debtor.
(2.) The contents of the application filed in Form No.5 as per Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for short to be referred to hereinafter as the 'Rules) are supported by affidavit of Mr. Yatinder Pal Singh, Director of the company.
(3.) Vide resolution (Annexure III) any of the Director was authorised to appoint M/s. Saxena and Saxena Law Chambers, Advocates to appear before the Tribunal in connection with the application and to do all the necessary acts including the issuance of legal notice in terms of Section 8 of the Code to the Corporate Debtor.;