In the matter of ISR Infra Private Limited TCP (IB) No. 106-9-AMR-2019

NCLT Amaravati Bench. TCP (IB) No. 106/9/AMR/2019 (IB) No. 38219lllDBlz}Iel ICP NATIONAL COMPANY LAW TRIBUNAL AMARAVATI BENCH t(rrj< **>k :k)k* TCP (IB) No. r06/9/AMR/20r9 ICP (IB) No. 382/9 lIJDBlz0Igl Under Section 9 of the Insolvency and Bankruptcy Code r 2016 read with Rule 6 of the fnsolvency and Bankruptcy (Application to Adjudicating Authority) Rules,2016 IN THE MATTER OF M/s ISR INFRA PRIVATE LIMITED Befween Mis CMR Transport Contractors Company Private Limited Door No.54-18-3/4, Near I.T.I. Gate, Bharat Gas Lane, Sivapuram Colony, Vijayawada - 520 008. Andhra Pradesh. ... Petitioner/Operational Creditor and Mis ISR Infia Private Limited 5 0 -9 6-4 /7.. Flat No.28, Sai Ratneswar Residencv. harnmadhara (NE), khapatham - 530 013. ra Pradesh. ... Respondent/Corporate Debtor 1 I f)ate of Order: 09.09.2019

Hon'ble Janab Mohammed Ajmal, Member Judicial Appearance: For Petitioner/Operational Creditor: Mrs. J.V.L. Bharati',-.Advocate with Mrs. Padmasri Appanna, PCS For Respondent/Corporate Debtor: None.

TCP (IB) No. t 06t9t\}/rV20t9 ICP (IB) No. 382/9 tHDBt2}rsl ORDBR 1' The Cornpany Petition under Section 9 of the Insolvency and Bankruptcy Code,2016 ('the Code' for short) to initiate Corporate Insolvency Resolution Process (CIRP) of the Respondent for its default in repaying an operational debt of t.8,61 ,988.32 including interest. 2. Briefly stated the factual backdrop of the petition are as folows: a) The Petitioner company is a private Limited cornpany incorporated in tlre year 2005 and is engaged in providing auxiliary transport support and activities of travel agencies etc. The Respondent company is a private lirnited company incorporated in the year 2010. During April 2077, as per terms of understanding between the Respondent and Hindustan Petroleum corporation, the Respondent vide letter dated 01.04.2017 engaged the petitioner for lifting products ex terminal through their tank truck on EXMI basis. The petitioner duly performed its bligation and raised invoices on the Respondent. Entry in the ledger account was made by the petitioner as and whln the Respondent made payments. The respondent made a part payment of {.r0,00,000 and an amount of {.5,98,603 rernained outstanding as on 25.09.2017. The.,Petitioner requested the Respo'dent tiine and again to rnake the outstanding payment and the last such request was made under ernail dated 28.06.2017. However, the Respondent failed to rnake the necessary payment. The petitioner on 29.10.2018 issued a demand notice under Section 8 of the code in Forrn 3. Failing to elicit any response, the petitioner calne up with the present petition on l5'05.2019 before the NCLT, Hyderabad Bench. It clairned interest at the rate of 24Yo amounting to t. 2,63,3g5.32 indicating the total default { to be 8,61,988.32. It has suggested the name of Shri pradecp Kumar Sravanam as Interim Resolution professional (IRp). The proposed IRp f

)LL I --illi4i6r'aJ r-.r-!i-1:: l0l9 TCP (IB) No' l06i9iA*\m- . (IB) No. 382i9/I{DBl2019l tCP has given his consent for appointment' No disciplinary proceedings is pending against him and his narne is reflected in the IBBI website' The petitionwastransferredtothisBenchuponitsestablishment' c) seled a copy of the Petition on the Respondent by The Petitioner DTDC Courier on 14.05 .z0lg, before filing tl-re petition. During the llearing held on 14.06.20lg, the Adjudicating Authority directed the Petitioner to issue notice to the Respondent afresh for its appearance on 02.0j.2019. The petitioner issued notice by Speed Post on 22'06'2019 that 'Itetn Delivered' on and filed the tracking report showing 25.06.2019.Noneappearedfortherespondenton02.07.20t9,The Adjudicating Authoritv directed the Petitioner to make paper publication.Accordingly,tlrePetitionermadeapaperpublicationin Hanslndia(inEnglish)andSakshi(inTelugu)on|5.07'2019.The Adjudicating Authority on 18'07'2019 set the Respondent ex-parte' as it,wascalledabsentancinorepresentationorritsbehalf. .- Heard, t-he Counsel for the Petitioner. There was no representation frorn the r.e ondent was set ex-pa.rteon 18.07.2019, as the setwice of notice was held with regard to the debt s cient..Tliere was no contest fi'om tl're respondent and to the interest claimed thereon. The debt claimed i'n the petition is an gnpaid operational debt, as is clearly evident frorn the invoices and the notice under section 8 of the Code. The petition filed under Section 9(2) of the Code is complete in all respects. This Authority has thus no hesitation in admitting the petition. Flence ordered' ORDBR i.TheCornpanyPetitionbeandlresanreisadrrritted,exparte' ii. The corporate Iusolvetrcy Resolutior-r Process of the respondent sirall cornlnence frorn this date and sliall be cornpleted within 180 days hence'

NCLT Amaravati TCp (rB) No. 106/s/AM) tcp (rB) No. 382/9/[IDB lll shri Pradeep Kurnar Sravanarn, (Registration No. IBBI/I'A_, N000100/2017-20rgl11009), having office at plot 6_40, l suprabhat Township, Venture-2, Near Na,a Malrareddy Engin College, Kachavani Singaram, Hyderabad 5000gg; e_mai sravanarr-pradeeir @yaltoo.con and 2283kun nr@i.cmairn.in; 1 No. N/ 8008 9g2331 is appointed as the Interirn Resolution profesr (rRP). lv. He is directed to take charge of the Respondent/corporate Det management forlhwith and take necessary steps in furtherance o .IRP in tenns of Sections l3(2), 15, 17,1g and,20of code and tr made thereunder. V. Moratoriurn in respect of the respondent is hereby declared u Section l4 of the Code. TIte Directors, promoters or any otrrer person(s.; associated with managernent of corporate Debtor shalr extend ail assistance cooperation to the IRp as stipurated under section 1g and for effectir discharging his functions under the Code. n"rui Registry is directed to ] communicate trre order to Petitioner/operationar creditor and the Respo'dent/corporate Deb forthwith vlu The petitioner/oc and the Registry are arso crirected to send the copy this order to IRp for necessary compliance.