- (1.) The Company Petition bearing C.P.(lB) .No. 169/09/ HDB/2017 is filed by M/s.Narindra & Narindra Steel Corp. u/s 9 of the Insolvency and Bankruptcy Code, 2016 R/W Rule 6 of the l&B (Application to Adjudicating Authority) Rules, 2016 by seeking to initiate Corporate Insolvency Resolution Process against M/s.Alaknanda Hydro Power Company Limited, under IBC, 2016.
(2.) Heard. Shri Tarun G. Reddy; Shri L.Aravind Reddy; Ms.L.Soumya Reddy, Ld. Counsels for Petitioner. None appeared for Respondent.
(3.) Shri Tarun G.Reddy, Learned Counsel for Petitioner submit that M/s.Alaknanda Hydro Power Company Limited is incorporated on 07.02.1996. The Petitioner/Operational Creditor has rendered services to the Respondent/Corporate Debtor towards supply of various steel & iron products for a total due amount of Rs.33,30,691/-. The said amount was not paid, the Petitioner sent communications through emails on 23.01.2015, 30.04.2015, 25.08.2016 and one letter dated 12.12.2016 by demanding to pay the total amount of Rs.33,30,691/-. When the Respondent is failed to pay the above amount, the Petitioner has filed the present Company Petition by seeking to initiate Corporate Insolvency Resolution Process against the Respondent.;