SANGHVI MOVERS LIMITED Vs. IVRCL LIMITED

JUDGEMENT

(1.) The Bench passes the following order as per Sub-Section (5) (ii) of Section 9 of Insolvency and Bankruptcy Code, 2016 (IBC) :

(2.) We have also carefully perused the written arguments filed on behalf of operational creditor dated 31.08.2017, wherein they have refuted the submissions of the corporate debtor and they have also submitted the judgments relied upon by them.

(3.) The Petitioner has submitted that the demand notice was issued by the advocate. in his capacity as a "retainer counsel" and as an authorised person to issue the 4 demand notice, in specific, the notice under Section 8 of the IBC on behall operational creditor. Mr. Abhijit Shripad Ashtoorkar, legal officer was It If authorised to act, appear represent the Company and follow up with the statutory/non-statutory authorities, courts and tribunal etc., Subsequently, by letter dated 10.04.2017, Executive Director and Chief Financial Officer of Sanghvi Movers Limited vide his letter of authority, by virtue of powers vested on him vide board resolution dated 25.05.2016 authorised Mr. Abhijit Shripad Ashtoorkar as the authorised representative/attorney to do the following acts and things in connection with initiation of corporate insolvency resolution process under Insolvency and Bankruptcy Code against IVRCL Limited before the NCLT, Hyderabad Bench.