In the matter of Bherawa Textile Industries Private Limited

[$ THE II{ATIONAL COMP+IYY LAW TRIBUI'{AL BENqII JATPTJR CORAM: Ilr. P.S'l{" PRASAD' HON'BLE JUDICIAL MEMBtrR SHRI RAGHU NAYYA& NBLE ICAL I}IEMBER HON TECHII{ Company Petition Xo' {18}- l06l9lJPRl2l}19 (Under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of rhe Insolvency end Bankruptcy {Application to Adudicating Authority) Rules, zCI16) IN THE MATTER OF; Mr. MANOJ LAKHERA' FROPRIETOR OF M/S MANOJ KUMAR & COMPANY ...OPEtrIATIONAL CREDITOR/ APPLICANT YERSUS MIS BHERAWA TEXTTLE INDUSTRIES PRIVATE LIMITEU ,.CORPORATE DEBTORJ RESPONDENT For the Applicant: Naresh Kumar Sejvani For the ResPondent: None APPearcd

Mr. Manoj Lakhera Prcp' of MIS Manoj Kumar & Company s.F^.f Versus i\'tiS Bherawa Textile lndusries Pvt' Ltd

MEI\{O pr.PABTrnS Mr. Manoj Lakhera Prop. of ws Manoj Kumar & cornpany Oflice Address: - tr'- 130' Mandia Road' Pali Rajasthan-306401. . . Operational Creditor/A pplica n t VERSUS IWs Bherawa Textile Industries Private Limited lst Registered Oflice At: - 4 To 7' Phase, Industrial Area, Pati Raiasthsn-3S6401 .' .CorPorate DebtorlResPondent q order Pronou nced on :7. -2l.2b / ORDER Per- Shri RgghU NAIv+r (Technical Mquber) I L This Application has been filed under Section of the Insslvency and Banknrptcy code, 2016 ('IBC',) read with Rule-6 of lnsolvency and Bankruptcy (Application to Adjudicating Authority) Rules, ZArc by Mr- Manoj Lakhera Prop. of lrUs Manoj Kumar & Company ('Applicant') ctraiming to be an Operational Creditor with a prayer for initiadon of Corporate Insolvency Resolution Process against lvlls Bherawa Textile Industries Private Limited ('Respondent'). qj'r

Mr. Manoj Laklrerc Prop. of Mr'S Manoj Kumar & C'rmpany Versus MiS Bherawa Textile Industries Plt. Ltd

J 1 The Applicant is the sole proprietor of IWs Manoj Kumar & Company' The Permanent Account Number of the Applicant i* ABAPL2820N and the GSTIN/{.IIN No. is 08ABAPL28?0NlZN. The address of the Applicant is f'- 130, Mandia Road, Pali -3S6a01 $ajasthani" ,1 The Respondent is a Private Limited Company incorporated under the provisions of the Ccmpani*s Act, ?CI13 on 24.06.?015, duly registered with the Registrar of Companies, Jaipur bearing CIli: U 1 7290RI2CI I 5PTC047790 and the Registered Office of the Respondent is located at 4 to 7, Ist Phare Industrial Area Pati * 306401 {Rajasthan)"As per the Master Data annexed, the Authorised Capital of the Respondent Company is Rs" 7,50,00,0001-seven crore Fifty Lakhs only} and the paiel-up capital is Rs' {.Rupees 6,65,00,000 (Rupees Six Crore Sixty-Five Lakhs Only)' 4. According to the Applicant, since October 2016' the Respondent had been purchasing fabric chemicals {iom the Applicant and the payments thereof rvere made on time. However, the bill dated 27.01.2018 generated by the Applicant for amount sf Rs. 1,19,07? was partly paid and an amount of Rs' 95,699l-is due from the Respondent. Also, the payments for the I bills raised thereafter from 3 1 .01.201 I to 05.09.?01 8 fur taml amount of Rs. 6,87,5 l2/-were not made by the Respondent. Copy of billsl invoices are annexed with rhe Applic*tion. In crder to clear the outstanding dues, the Respondent had d3"hf Mr. Manoj Lakhera Prop. of !v1JS Manr:i Kumar & Cornpeny Versus MjS Bherawa Textile lndustries }tt. Ltd

I issued multiple cheques between August ?018 to october ?018. However, on presentation all cheques were retumed unpaid with remark "CHQ LINUSABLE''" Copy of cheque returrr msmo are annexed with the Application. 5" According to the Applicant, the last payment of Rs' 60,000 through I\XFT rvas made on 05.09.2018 by the Respondent. Thereafter the Applicant had made various request to ctear outstanding dues and issued demand notice dnted 11.01.2019 in Form 4, as prescribed under Rule 5 of IBC (Application sf to Adjudicating Authority) Rules, ?016 demanding an &mount Rs' 9,02,9551- (Rupees Nine Lakh Two Thousand Nine Hundred Fifty-Five Only). Copy of Demand notice along with tracking report is annexed wittt the Applicarion. The Respondent through its advocate had sent reply dated 30.01.2019 to the demand notice and asked for copies of the document claimingthatthe same was not attached with the demand notice and had also refused to accept the claim amount. Copy of reply to the dernand notice is annexed with the Application" The Applicant had responded to the reply notice vide letter dated 16.0?.?019 *nclosed with copy of invoices and ledger acsount and the $ame is not replied by the Respondent. Copy of respanse t0 reply notice is annexed with the ApplicatiCIn' #f'f

Mr. Manoi Lakhera Prop. of ildlS Manoj Kurrar & Company Versus M.;S Bherawa Textile lndusnies Pu' Ltd

)I I 6. Thus, the Applicanl filed the present Application under Section of IBC' 2016, As claimed by the Appticant, the Respcndent is liable to pay an affiount of Rs, 9,0?,9551- as an outstanding amount, as mentioned in Pan IV ofFom 5: PART IV Particulars of Operational Debt Sr. No. Total amount of debt, details Rs" 9,0?,9551- {RuPees Nine of transaetions on account of Lakh Two Thousand NinE Hundred Fifty-Five OnlY) which debt &11 due, and the date from which such debt fell due. Amount claimed t0 be in Total &mount of debt claimed to default and the date on which be in default is Rs. t.CI3,955/-the de&ult occurred including princiPal arnount of Rs. 7,83,211/-, Bank charges Rs. ?,0981- and interest of Rs. 1,112,64S1-. I Date of det'ault: ?5"03.20 I

7. perusal of the records of the proceeding befare this Tribunal shows that despite selvice of notice upon the Respondent / Corporate Debtor, as brought cut by the order dated 1S.10"2019, and in view of non-appearanse, this Tribunal w&s oonstrained to proceed ex-parte against the Respondent I Corporate Debtor and the submissions of learned counsel fur the Applicant lvere heard and order was resenred. (Kr.r Mr. Manoj [.akher* Prop. of M/S Manoj Kumar & Compa*y Versus &,!'S Bheraw-a Texile lndusries Prt, Ltd

8. This Tribunal perused all the relevant papers and it is apparent from t]re record that the Respondenvcorporate Debtcr has continuously failed to make payrnent against the invoices raised by the Applicant frorn Janunry 201 I to December 201 8. Also, despite the issuance of Section I notice under ttre Insolvency end Bsnkruptcy Code, 2016 by the Applicant and the receipt of the same by the Respondent, the payrnent was not made" Though the respondent has not filed reply 1o the present Application, it is noted that the respondent has not raised any dispute even in the reply to the demand notice sent tc the Applicant. In these circumstances the claim stands estahlished along with the prima facie pre$umption that there is def,euit in payment of the amount due to the Applicantloperational Creditor and also no dispute is in existence. 9. It is noted that the Respondent has made continuous default, initially of Rs 95,699/- on 26.03.3018 (due date for the first invoice dated 27.01.201e) which augmented to Rs. 9,0?,9551- with interest and other charges on 04.1 l.Z0l8 {due dare for the last invoice dated 05.09"2018}.

Thus, the rnatter is within the purview of Law of Limitation. I t). The Registered Office af the RespondendColpCIrate Debtor is situated in pali, Rajasrhan and therefore this Tribunal has jurisdiction to entertein and try this Applicaticn, Also, the matter is lrithin the puruiew of Lasr of g.rr *-/** Mr. Manoj Lakhera Prrnp' of MIS Munoi Kumar & Compan3" Versus MIS Bherawa Textile lndustrier P!'r. Ud t Limitation. Hence, this Tribunal is inclined to initiate the proceedings namely, Corporate Insolvency Kesolution Process (CIRP) as against the Debtor as envisaged under the Provisions cf IBC, RespondentlCorporate 3016. tt. The Applieant has named the Interim Resolution Professional {IRP} Mr" Mahesh Chandra pur*hit but failed to file certificate of Registration. Therefore, rhis Tribunal appoints Mr, Vikram singh Rathore having Regisrrarion No. IBBI{PA-0031IP-N00203/201 8-20 19ll 3361 a*d email vikram"nimblis.grnail,com and contact number 86969340?3, as &e IR-P of the Respondent. The IRP is directed to take all such step$ a$ are required under the statute, inter-alia in terms of Sections 15,1?,18,19,20 and 2l of the Csde- 12, The consequence$ of initiation of CIRP shall be inter alia. as follows: - (i) The Resolution Professional Mr. Vikram Singh Rathore* with the Regisgation No. IBBIIIPA-003/IP-N00203/20 I 8-20191I ?361 (e-mail: is hereby appointed as the Interim vikram.nimbli@grnail.com), of (IRP) to take over the affairs the Resolution Prcfessional Respondent I Corporate Debtor and duties as required to be perforrned by him under the provisions of IBC, 3016, including issue of publication in widely circuiated newspapers as contemplated under the (Kr"r- Mr. Mancj Lakhera frnp.

CIf kL:S M*noj Kurxar & Comp*ny Versus M;'S Bherawa Textile Indu*tries Pvt. Ltd

I provisions of IBC, 2016 and calling for the clairns flor* the creditors of the Respondentl Corporate Debtor and collating of the sarne shall be done. tii) Further, as a consequence of admission, moratorium as envisaged under Section 14 of ItsC, 2016 is invoked in relation to the Respondent / Corporate Debtor which will be in vogue during CIRF of the I Respondent Corporate sebtor. The IRF shall carry out Corporate Insolvency Resolution Process strictly as per the timelines specitied and as envisaged under the provisions of IBC, ?016 in relation to the Respondent 1 Corporate Debtor" (iii) The said IRP shall act strictly in compliance with the provisions oflBC, 2016. with a view to defray his expenses to be incurred and fees on account, the Applicant I Operational Creditor is directed to deposit a sum of Rs. 2,00,000/- (Two Lakhs only) to the accounr of IRP within 3 days {rom the date ofthis order. The IRP shall duly file the status report apprisingthis Tribunal about the progress ofCIRP unfolding in relation to the Respondent I Corporate Debtor. In terms of Sections l ? and lg of IBC, 2016 all personnel of the Respondent / Corporate Debror including its promoters and Board of Directors, whose power$ shall stand suspended, will extend all cooperation to the IRP during his t3nf Mr. Manoj Lakhera Prop. cf MIS Manoj Kumar & Company Yersus MIS Bherawa Textile lndustries Pfi. Lrd

I tenure as such and the management of the affairs of the Respcndent Coqporate Debtor shall vest with the IRP. (iv) In tenns of Section I of IBC. 3016, a copy of this order shall be communieated to the Applicant 1 Operational Creditar, Respondent I Corporate Debtor as well as the Interim Resolution Proftssional appointed by this Tribunal ts carry out the CIRP at the earliest, not exceeding one week frCIm today. A copy of this order shall also be communicated to IBBI fur its records. 13. Accordingly, CPNo. (IB)- 106/9IJPR/2019 is admitted.

Itd, l**** 3C, l*--- I / SH, ILA,GHLI TAYYA}I, Dr" P.S.I{ PRASAD, s,rEltBHR (TECHNTCAL) uHi\tBnR (JI"IDICTAL)

Mr. Manoj Laklem Prop. of !t#S Manoj Kumar & Company Versus M:'S Bherawa Textile Industries Pvt. Ltd