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IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH, COURT-I
CP (IB) 1968/MB/C-I/2018
Under Section 9 (3) (b) of the Insolvency and
Bankruptcy Code, 2016 r/w Rule 6 of the Insolvency
and Bankruptcy (Application to Adjudicating
Authority) Rules, 2016.
E.I Dupont India Private Limited
(CIN: U24299HR1998PTC034086)
7th Floor, Tower C, DLF Cybergreens, Sector-25-
A, DLF City Phase-III, Gurgaon Haryana (HR)
122002.
…Operational Creditor
Versus
Miltech Industries Private Limited
[CIN: U74950MH1982PTC027274]
F-27/1, MDC Industrial Hingna Road, Nagpur (MH)
440016.
… Corporate Debtor
Order Delivered on 25.11.2022
Coram:
Hon'ble Member (Judicial)
: Justice P.N. Deshmukh (Retd.)
Hon'ble Member (Technical)
:
Shyam Babu Gautam
Appearances:
For the Operational Creditor
:
Shreyas Shrivastava, Counsel
For the Corporate Debtor
:
Fatima Barodawalla, Counsel
IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH, COURT-I
CP (IB) 1968/MB/C-I/2018
Page 2 of 11
ORDER
Per: Justice P.N. Deshmukh, Member (Judicial)
1.
The present Company Petition is filed by Mr. Samar Bhatia, on behalf
of E.I. Dupont India Private Limited (hereinafter referred to as the
“Operational Creditor”) under Section 9 of the Insolvency and
Bankruptcy Code, 2016 r/w Rule 6 of the Insolvency and Bankruptcy
(Application to Adjudicating Authority) Rules, 2016 seeking initiation
of Corporate Insolvency Resolution Process (hereinafter referred to as
“CIRP”) against Miltech Industries Private Limited (hereinafter
referred to as the “Corporate Debtor”).
2.
The Corporate Debtor is company incorporated under the Companies
Act, 1956 and has its registered office at F-27/1, MDC Industrial
Hingna Road, Nagpur (MH) 440016. Its Company Identification
Number (CIN) is U74950MH1982PTC027274. Therefore, this Bench
has the jurisdiction to entertain this Petition.
3.
The total amount of debt claimed is Rs.1,32,87,596.24/- (Rupees One
Crore Thirty Two Lakh Eighty Seven Thousand Five Hundred and
Ninety Six and Twenty Four Paise Only) and the date of default is
10.08.2016.
Submissions made by the Ld. Counsel of the Operational Creditor by the
way of Petition:
4.
It is the case of the Operational Creditor that he had supplied goods to
the Corporate Debtor. The invoices raised by the Operational Creditor
against the Corporate Debtor are annexed to the Petition as Annexure
C.
IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH, COURT-I
CP (IB) 1968/MB/C-I/2018
Page 3 of 11
5.
The proof of delivery of goods dispatched by the Operational Creditor
from 13.05.2016 to 23.07.2016 are annexed as Annexure D to the
Petition.
6.
Statement of bank account where deposits are made or credits are
received by the Operational Creditor in respect of the Debt of the
Corporate Debtor is annexed as Annexure I to the Petition.
7.
The Operational Creditor submits that default has been occurring since
10.08.2016 when the payment against the first invoice raised by the
Operational Creditor dated 12.05.2016 was defaulted. The account is a
running one and the last default was committed on 11.05.2017, wherein
payment against invoice dated 10.02.2017 by the Operational Creditor
was defaulted by the Corporate Debtor. The list containing the dates of
default of the invoices are given in Part IV of Form 5 in the Petition.
8.
It is further submitted by the Operational Creditor that the Corporate
Debtor via an e-mail dated 20.03.2017 acknowledged the payments due
to the Operational Creditor. A copy of the e-mail is annexed as
Annexure F to the Petition.
9.
Owing the continuous defaults, the Operational Creditor issued a
notice dated 30.05.2017 to the Corporate Debtor regarding payment of
debt due. A copy of the same is annexed as Annexure E to the Petition.
Submissions made by the Ld. Counsel of the Corporate Debtor by the way
of Affidavit in Reply:
10. The Corporate Debtor has raised a di
