BANG PAPERS PRIVATE LIMITED Vs. HANUMAN CHROMOCOATES LIMITED

JUDGEMENT

(1.) The present Company Petition bearing No. CP(IB) SR No.4148/9/HDB/2017 is filed by M/s. Bang Papers Private Limited (Petitioner/Operational Creditor) , under section 9 of Insolvency and Bankruptcy Code, 2016 r/w Rule 6 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by seeking to initiate Corporate Insolvency Resolution Process in respect of Hanuman Chromocoates Limited (Respondent/Corporate Debtor).

(2.) Brief facts, as mentioned in the present Company Petition, are as follows: xx. The Petitioner/Operational Creditor had filed Cheque bounce cases against the Respondent /Corporate Debtor in the Honourable XI METROPOLITAN AAAGISTRATE COURTS, Secunderabad under sections 138 AND 142 of Negotiable Instruments Act and that the said offences under section 138 and 142 of Negotiable Instruments Act are distinct, separate and does not come under the definition of dispute as defined under sub-section 6 of section 5 of the Code. Dispute includes a suit or arbitration proceedings relating to (a) the existence of the amount of debt; (b) the quality of goods or service; or (.

(3.) The case is listed for admission on 14.11.2017 fit 30.11.2017. The matter was adjourned on the above dates at the request of the Party.