- (1.) The above petitions have been filed seeking to set in motion the Corporate Insolvency Resolution Process (IRP) as contemplated under Section 2 of the Insolvency and Bankruptcy Code, 2016 (for short here-in-after as the Code) in relation to M/s. Meyer Apparel Ltd. (for brevity here-in-after to refer as the 'Company') described in the petition as 'Corporate Debtor. The petitioner is 'Operational Creditor' and is a Company incorporated under the Companies Act, 1956. The Corporate Debtor has changed its name from M/s. Givo Limited to M/s. Meyer Apparel Limited w.e.f. 19.10.2015 and its registered office is at Gurgaon. The Certificate of Incorporation pursuant to the change of name dated 19.10.2015 is Annexure A-1. The facts in relation to C.P. (IB) No. 13/Chd/Hrv/2017
(2.) The Corporate Debtor-Company approached the Applicant for the purchase and supply of various qualities of interlining and lining trims. The Corporate Debtor issued purchase order dated 11.03.2014 to purchase goods worth ' 2,13,500/-. The purchase order clearly stipulated that payment against the goods supplied is to be made within sixty days after delivery of goods. Copy of the purchase order is Annexure A-3. After that the applicant started supplying the goods, which were accepted without any dispute or demur The Company acknowledged the receipt of goods by putting its stamp and signatures on the invoices on receipt of the material. It was also stipulated that any defect/shortage/rate difference was to be notified to the Applicant within seven days. The duly acknowledged and signed invoice dated 12.03.2014 of ' 2,13,500/- and another invoice dated 17.06.2014 for ' 70/- are at Annexure A-4. Non-payment of amount of the transaction within the due date, interest was charged @ 24% per annum. No dispute was raised by the Company nor the goods have been returned till date. It is also stated that the Company acknowledged the outstanding liability by submitting duly signed confirmation of accounts dated 07.01.2015 admitting the liability of ' 2,13,570.40. Copy of the confirmation of accounts is dated 07.01.2015 Annexure A-5. The Company also submitted its ledger account for the period from 01.04.2014 to 05.01.2015, wherein it acknowledged the outstanding liability of ' 2,13,500/-. Copy of the ledger account of the Corporate Debtor' for the aforesaid period is Annexure A-6. The amount was not paid despite repeated demands.
(3.) Thereafter the Applicant sent a legal notice dated 02.03.2015 under Section 433 read with Section 434 of the Companies Act, 1956, admitting the outstanding payment within 21 days. Copy of the notice is Annexure A-9.;