SANJIV GOYAL Vs. ANTONY PROJECTS PRIVATE LIMITED

JUDGEMENT

(1.) Under Consideration is a Company Petition filed by Sanjiv Goyal, Partner, Rani Sati Impex (in short, 'Petitioner/Operational Creditor') against Antony Projects Private Limited (in short, 'Respondent/Corporate Debtor') under section 9 of the Insolvency and Bankruptcy Code 2016 (In short, 'IB Code 2016') r/w Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, 'D3 Rules 2016').

(2.) Before proceeding with this matter, it would be appropriate to make a note of background facts for the purpose of determination of this petition.

(3.) Shri P.R Balasubramanian., the learned counsel appearing on behalf of the petitioner/OC submitted that the petitioner is engaged in the Business of Steel Trading and other constructions materials. In ordinary course of business, the Respondent/CD approached the petitioner and expressed its requirements for Steel bar and pipes etc. Accordingly, the petitioner supplied the said products from time to time under various invoices. In respect of the present issue, the respondent had placed various orders with petitioner between November, 2013 and January, 2014 which the petitioner processed and delivered to the respondent and the respondent received and given a latter of undertaking to make payment as on 12.04.2014. Therefore, deemed that the respondent has acknowledge to the debt does not refer to any dispute relating to or in connection with unpaid operational debt. It is also submitted that the Invoices were due and payable within 30 days from the date of each invoice. However, the respondent failed to make payments within the due date. Therefore, as on the date of filing petition, the Petitioner/OC is entitled to recover a sum of Rs. 30,45,815/- together with the interest @ 2% per month from the respondent.