In the matter of Harihar International Private Limited

A petition under section 9 of the Insolvency and Bankruptcy Code, 2016 read with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. And In the matter of: RASPL Industries Private Limited formerly known as ARS Steels Private Limited, a company incorporated under the Companies Act, 1956 and being a company within the meaning of Companies Act, 2013 and having Corporate Identification No- U74900WB2009PTC135480 and its registered office at 23A, Netaji Subhash Road, 3rd Floor, Room No. 27, Kolkata- 700001, in the State of West Bengal. .....Operational Creditor -Versus-

Harihar International Private Limited, a company incorporated under the Companies Act, 1956 and being a company within the meaning of Companies Act, 2013 and having Corporate Identification No- U00500JH1997PTC008277 and its registered office being Near Bank of India, P.O.- Sunder Nagar, Jamshedpur, Pincode-832107, in the State of Jharkhand. .... Corporate Debtor

Date of Hearing : 25th August, 2022 Date of pronouncing the order: 31st August, 2022 Coram: Shri Rohit Kapoor, Member (Judicial) Shri Balraj Joshi, Member (Technical)

In the National Company Law Tribunal, Kolkata Bench- II RASPL Industries Pvt. Ltd. vs. Harihar International Pvt. Ltd. C.P (IB) 458/KB/2019 Appearances (via video conferencing/ physical ): For Operational Creditor : Ms. Swati Agarwal, Advocate Mr. Shailendra Jain, Advocate

ORDER Rohit Kapoor, Member (Judicial):

1. This Court convened through hybrid mode.

2. This is a Company Petition filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) by RASPL Industries Pvt. Ltd. formerly known as ARS Steels Pvt. Ltd. (Operational Creditor), seeking to initiate Corporate Insolvency Resolution Process (“CIRP”) against Harihar International Pvt. Ltd. (“Corporate Debtor”).

3. The Corporate Debtor is a private company incorporated on 22.12.1997. The authorized share-capital of the company is ₹1,00,00,000/- and the paid up share-capital of the company is ₹22,66,000/-

4. The debt fell due on account of supplies of angles and beams made by the Operational Creditor to the Corporate Debtor on the basis of purchase orders placed by the Corporate Debtor. The total amount claimed by the Operational Creditor is ₹16,54,003/-. The principal amount claimed by the Operational Creditor is ₹16,54,003/- and the interest calculated @24% p.a. upto 31.07.2018 is ₹3,81,693. The debt fell due from 24.05.2017. The Demand Notices under section 8 of the Code was sent on 16.03.2018. No reply to the Demand Notice was filed by the Corporate Debtor.

5. The Operational Creditor has relied on the following documents in support of its claims:

a. Details of the outstanding dues in workings, being Annexure “E”;

In the National Company Law Tribunal, Kolkata Bench- II RASPL Industries Pvt. Ltd. vs. Harihar International Pvt. Ltd. C.P (IB) 458/KB/2019 b. Statement of bank account where deposits are made or credits received normally by the Operational Creditor in respect of the debt of the Corporate Debtor, being Annexure “F”;

c. Copies of Purchase Orders, Invoices, Legal Notices issued by the Ld. Advocates of the Operational Creditor and Demand Notice in Form 3, being Annexure “G”;

d. Affidavit in compliance of Section 9(3)(b) of the Code;

e. Additional Documents introduced to record vide Supplementary Affidavit dated 19.02.2020

6. The instant matter was set ex-parte on 4th December, 2019. After that the instant matter was listed on a number of times. However, no one appeared on behalf of the Corporate Debtor despite service and publication. 7. Analysis and Findings: 7.1 We have heard the Ld. Counsel on behalf of the Operational Creditor and perused the record. 7.2 Part I contains particulars of the applicant. Part-II contains particulars of the Corporate Debtor. It is mentioned in Part-III, the IRP be appointed by this Adjudicating Authority. 7.3 Part-IV contains details of the debt and the total amount is claimed to be Rs.12,72,309/- as a principal amount and interest up to 31st July, 2018 Rs.3,81,693/- It is stated that the debt fall due on 24th May, 2017. The purchase order invoice and the statement of account of have been placed on record. Demand Notice under section 8 has been placed on record at page 49 of this application along with the postal receipt showing the service upon the Corporate Debtor. At page 54 with the endorsement “Left India” dated 7th April, 2018. Ld. Counsel appearing for the Operational Creditor has also placed on record by way of an affidavit paper publication in compliance of the order passed by this Adjudicating

In the National Company Law Tribunal, Kolkata Bench- II RASPL Industries Pvt. Ltd. vs. Harihar International Pvt. Ltd. C.P (IB) 458/KB/2019 Authority on 29th July, 2019 along with paper cutting of ‘Hindustan Times’ on 31st August, 2019 whereby paper publication was made for service upon the Corporate Debtor. 7.4 No reply to the Section 8 Notice has been filed and after having been served through publication, no reply affidavit has been filed by the Corporate Debtor. 7.5 Section 9 (3)(b) affidavit has been filed by the Operational Creditor which is at page 59-60 of the instant application. 7.6 In view of the above facts, the present petition made by the Operational Creditor is complete in all respect as required by law. The petition establishes that the Corporate Debtor is in default of a debt due and payable and that the default is more than the minimum amount stipulated under section 4(1) of the Code at the relevant time, i.e., Rupees one lakh. 7.7 It is, accordingly, hereby ordered as follows:- a) The application bearing CP (IB) No. 458/KB/2019 filed by RASPL Industries Pvt. Ltd. formerly known as ARS Steels Pvt. Ltd. (Operational Creditor), under section 9 of the Code read with rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating CIRP against Harihar International Pvt. Ltd., CIN: U00500JH1997PTC008277, the Corporate Debtor, is admitted. b) There shall be a moratorium under section 14 of the IBC. c) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 of the IBC or passes an order for liquidation of Corporate Debtor under section 33 of the IBC, as the case may be. d) Public announcement of the CIRP shall be made immediately as specified under section 13 of the Code read with regulation 6 of the In the National Company Law Tribunal, Kolkata Bench- II RASPL Industries Pvt. Ltd. vs. Harihar International Pvt. Ltd. C.P (IB) 458/KB/2019 Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. e) Ms. Meera Prasad registration number IBBI/IPA-003/IP- N00278/2020-21/13136 email: pdmeera@gmail.com is hereby appointed as Interim Resolution Professional (IRP) of the Corporate Debtor to carry out the functions as per the Code subject to submission of a valid Authorisation of Assignment in terms of regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016. The fee payable to IRP or, as the case may be, the RP shall be compliant with such Regulations, Circulars and Directions as may be issued by the Insolvency & Bankruptcy Board of India (IBBI).

The IRP shall carry out his functions as contemplated by sections 15, 17, 18, 19, 20 and 21 of the Code. f) During the CIRP period, the management of the Corporate Debtor shall vest in the IRP or, as the case may be, the RP in terms of section 17 of the IBC. The officers and managers of the Corporate Debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP within one week from the date of receipt of this Order, in default of which coercive steps will follow. g) The IRP/RP shall submit to this Adjudicating Authority periodical reports with regard to the progress of the CIRP in respect of the Corporate Debtor. h) The Operational Creditor shall initially deposit a sum of ₹1,00,000/- (Rupees One lakh only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims and for his remuneration. These expenses are subject to approval by the Committee of Creditors (CoC).

In the National Company Law Tribunal, Kolkata Bench- II RASPL Industries Pvt. Ltd. vs. Harihar International Pvt. Ltd. C.P (IB) 458/KB/2019 i) In terms of section 7(5)(a) of the Code, Court Officer of this Court is hereby directed to communicate this Order to the Operational Creditor, the Corporate Debtor and the IRP by Speed Post, email and WhatsApp immediately, and in any case, not later than two days from the date of this Order. j) Additionally, the Operational Creditor shall serve a copy of this Order on the IRP and on the Registrar of Companies, West Bengal, Kolkata by all available means for updating the Master Data of the Corporate Debtor. The said Registrar of Companies shall send a compliance report in this regard to the Registry of this Court within seven days from the date of receipt of a copy of this order. k) CP (IB) No. 458/KB/2019 to come up on 27th October, 2022 for filing the periodical report. l) A certified copy of this order may be issued, if applied for, upon compliance with all requisite formalities.

Balraj Joshi Rohit Kapoor Member (Technical) Member (Judicial)

Signed this on the 31st day of August, 2022

P.J(Steno)/SM[LRA]