MACQUARIE BANK LIMITED Vs. UTTAM GALVA METALLICS LIMITED

JUDGEMENT

(1.) The Operational Creditor has filed the instant application seeking to set in motion [he Corporate Insolvency Resolution Process as contemplated under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short to be referred here-in-after as the 'Code') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 (for brevity the 'Rules') in relation to Uttam Galva Metallics Limited (for short the (Corporate Debtor'). The registered office of the Corporate Debtor is situated at Gurgaon in Haryana State and therefore, the matter falls within the jurisdiction of this Tribunal. The application has been filed in terms of Form No. 5 prescribed under the Rules.

(2.) The application was filed after the operational creditor sent a notice alongwith the invoices demanding the payment of the defaulted amount to the Corporate Debtor statedly in Form No. 3, as prescribed in Rule 5(1) of the Rules by a registered post AD and through courier The demand notice dated 14.02.2017 for both the sales contracts is at Annexure-11. Two invoices are dated 21.12.2015 and the third invoice dated 31.12.2015, which are at Annexure-4. The other documents relied upon by applicant are three bills of exchange; one dated 05.01.2016; second dated 06.01.2016 and third Bill of Exchange dated 18.01.2016 at Annexure-6. The demand notice was sent through Mr. Kanwalvir Singh Kang, Advocate.

(3.) The Corporate Debtor sent reply dated 22.02.2017 Annexure A-12 to the demand notice statedly raising the dispute.