JUDGEMENT

[Per: Barun Mitra, Member (Technical)] The present appeal filed under Section 61 of Insolvency and Bankruptcy Code, 2016 (“IBC” in short) by the Appellant arises out of the Order dated 06.06.2022 (hereinafter referred to as “Impugned Order”) passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-II) in CP (IB) No. 345 (NB)/2020. By the Impugned Order, the Adjudicating Authority has dismissed the Section 9 application filed by the Operational Creditor-M/s G.L. Shoes (the present Appellant) seeking initiation of Corporate Insolvency Resolution Process (‘CIRP’ in short) against Corporate Debtor-Action Udhyog Private Limited (the present Respondent). Aggrieved by this impugned order, the present appeal has been preferred by the Operational Creditor.

2. Making his submissions the Learned Counsel for the Appellant submitted that the Operational Creditor used to supply footwear and related products to the Corporate Debtor/Respondent on the basis of purchase orders received from them. It was also submitted that the invoices stipulated payment to be made 75 days from the date of invoice. Goods were supplied between April – June 2016 an