MANEK ENTERPRISE Vs. ANIL MINES & MINERALS LTD

JUDGEMENT

(1.) Manek Enterprise, through its authorised personnel Mr. Krunal Patel, filed this petition under section 9 of The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "the Code") " read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred to as "the Rules") with a player to trigger Corporate Insolvency process in respect of Anil Mines and Minerals Ltd.

(2.) Anil Mines and Minerals Ltd. is a public limited company engaged in the business of corn wet milling and allied activities. Anil Mines and Minerals Ltd. approached the petitioner for purchase of goods. Since 2014-15 petitioner has been regularly supplying and selling goods to the respondent. During regular course of business, respondent placed purchase orders during June to August 2016 with the petitioner. Petitioner duly delivered goods to the respondent with utmost quality and requisite specification, but respondent did not make payments towards the goods purchased and consumed from June to August 2016. Petitioner made several reminders calling upon the respondent to make payment of outstanding amount as per the accounts. Respondent issued cheques towards legally enforceable and outstanding debt arising out of provision of goods. Petitioner issued demand notice dated 20.08.2017 as required under section 8 read with Rule 5 of the Code and Rules. Said demand notice sent on 28.08.2017 was returned unserved. Respondent neither choose to make payment nor to give notice of dispute. According to the petitioner debt of default with effect from 29.09.2016. Petitioner claimed an amount of Rs. 1,79,42, 899/- from the respondent.

(3.) Petitioner, along with the petition filed copies of invoice, bank statements and copy of certificate issued by Kalupur Commercial Bank Ltd. Petitioner also filed affidavit stating that no notice of dispute has been given. Petitioner also filed computation of amount of interest due and not paid and particulars of principle amount. Petitioner filed proof of despatch of the petition on the respondent. Petitioner also filed proof service of date of hearing and service of application on the respondent. Petitioner filed affidavit along with partnership deed and authority letter. Respondent appeared through counsel and requested time to file objection. On 30.11.2017 respondent reported no objection. Learned Counsel appearing for the respondent also made a statement that no winding up t. proceedings initiated against the corporate debtor so far by any creditor.