M S ENTERPRISE Vs. SHREENIDHI WOODTECH PVT LTD

JUDGEMENT

(1.) M.S. Enterprise, a sole proprietary concern styling itself as Operational creditor has filed this petition through its proprietor Mr. Ram Murlidhar Verliani 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 prayer to trigger Corporate Insolvency process in respect of M/s. Shreenidhi Woodtech P. Ltd. which is a registered company having its registered office at Changodar, Dist. Ahmedabad treating as corporate debtor.

(2.) Petitioner in its course of business had sold goods from time to time and delivered to the respondent under invoices. Respondent received the goods and utilized them but respondent did not make any payment to the petitioner. Petitioner filed winding up petition under section 433 and 434 of the Companies Act, 1956 before Hon'ble High Court of Gujarat and the same is transferred to this Tribunal and numbered as CP (IB) No. 76/9/NCLT/AHM/2017. Petitioner with the permission of. this Tribunal withdrew CP (IB) No. 76/9/NCLT/AHM/2017 with a liberty to file fresh application, provided it is according to law.

(3.) According to the petitioner, respondent has to pay Rs. 2,71,912/- along with interest @ 24% per annum as on 29.04.2015 till the date of realisation. According to the petitioner, as on 04.09.2017 a total sum of Rs. 4,58,965/- along with interest @ 24% per annum is due from 05.09.2017 till the date of realisation.