RAGHUBIR SINGH SATPAL SINGH Vs. BEST FOODS LTD

JUDGEMENT

(1.) Mr. Deepankur Sharma, Advocate for the petitioner. Mr. Praveen Gupta, Advocate for the corporate debtor. Learned counsel for the petitioner inter alia contends that he was already holding the Power of Attorney from the petitioner when the demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 was sent and copy of that Vakalatnama was also sent alongwith the demand notice. Having heard learned counsel for the petitioner it is noticed that certificate from the Financial Institution maintaining the account of the petitioner confirming that there is no payment of the operational debt deposited by the corporate debtor has not been filed to comply with the mandatory requirement of Section 9(3) (c) of the Insolvency and Bankruptcy Code, 2016.

(2.) Notice of this defect to the petitioner and learned counsel for the petitioner accepts notice of this defect. Let the compliance be made and necessary certificate from the Financial Institution supported by the affidavit of the petitioner be filed within seven days.

(3.) Learned counsel for the petitioner further submits that the demand notice under Section 8 of the Code was served upon the Corporate Debtor and reply thereto was sent by the respondent. Learned counsel for the petitioner further submits that copy of this petition alongwith entire Paper Book was sent at the registered office address of the corporate debtor as per the requirement of Rule 6(2) of the Insolvency and Bankruptcy(Application to Adjudicating Authority) Rules, 2016.