Deepa Krishan, Member - (1.) The "Operational Creditor", M/s. Ienergizer IT Services Pvt. Ltd. has filed the instant application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') with a prayer for initiating the Corporate Insolvency Resolution Process against the "Corporate Debtor", M/s. Free Culture Apparels Pvt. Ltd. (for brevity the 'Corporate Debtor'). It is appropriate to mention that the 'Operational Creditor' is a Private Limited Company having its registered office at B-44, Malcha Marg, Chanakya Puri, New Delhi-110021 and is bearing identification No. U72900DL2010PTC201452. The 'Corporate Debtor' has CIN No. U51494DL2011PTC221186. It was incorporated on 21.06.2011. Its authorised share capital is Rs. 32,50,00,000/- (Rupees Thirty Two Crores Fifty Lakhs only) and the paid up share capital is Rs. 28,69,11,250/- (Rupees Twenty Eight Crore Sixty Nine Lakhs Eleven Thousand Two Hundred and Fifty Only). The registered office is located at L-2A, Hauz Khas Enclave, New Delhi-110016. It is stated in the application that the aforesaid data concerning the Corporate Debtor is authenticated by the master data available on the website of Ministry of Corporate Affairs.
(2.) The 'Operational Creditor' had named Shri Yash Jeet Basra, Address-A-71, Golf View Apartments, Sapatparni CGHS Ltd. Plot No. 4, Sector - 19B, Dwarka, New Delhi-110075, email: vbasrar@gmail.com, Registration No. IBBI/IPA-003/IP-00172/2016-2017/1823. 2.1 Subsequently on 10th July, 2017, the Operational Creditor submitted to us in the Court, the written submission in Form-2 under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), Rule 2016 from Advocate Ashok Kumar Juneja, Address-1302, Vijaya Building, 17, Barakhamba Road, Connaught Place, New Delhi-110001, Registration No. IBBI/IPA-002/IP-N00117/2017-18/10286. A copy of the Certificate of Registration dated 02 June, 2017 issued by IBBI to the said Insolvency Professional has also been filed. Learned Counsel for the Operational Creditor requested for change of Insolvency professional as against the one suggested earlier because the earlier list was valid only upto 30.06.2017 and proposed new Insolvency Professional, namely, Shri Ashok Kumar Juneja.
(3.) The particulars of operational debt have been given on part 4 of the application for initiation of Corporate Insolvency Resolution Process. It is stated that the total debt is Rs. 34,16,418/- towards outstanding invoices raised for the months of August 2015 to May 2016 (with the exception of February 2016) for services rendered to the Corporate Debtor along with interest at the rate of 24 per cent per annum from the due date to the date of actual payment. The details of the outstanding invoices have been filed at Annexure-P3 along with the application. Copies of the outstanding invoices have also been annexed along with the application.;