SAYALI S RANE Vs. CYTRUS CHECK INNS LTD

JUDGEMENT

(1.) This Petition i.e. Form No. 5 has been filed by the Petitioner on 27th of April, 2017 under the provisions of Insolvency and Bankruptcy Code, 2016 in the capacity of "Operational Creditor".

(2.) The Petitioner has affirmed that M/s. Cytrus Check Inns Limited is a "Corporate Debtor/Operational Debtor" who had defaulted in not refunding an amount of Rs. 1,12,537/- which was paid towards purchase of Holiday Plan Certificate. The said amount was due on 22/04/2016.

(3.) That the Debtor had acknowledged the said debt vide a letter dated 01.04.2017 wherein affirmed that the amount in question is payable to the Petitioner on account of refund of the amount paid towards purchase of the Holiday Plan Certificate from the Company. The Petitioner has placed on record the Service of Form No. 5 stated to be served on 24th April, 2017 on the Respondent/Debtor.