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Judgment
Per: Dr. BINOD KUMAR SINHA, MEMBER TECHNICAL
Under Consideration is an Application filed under Section 9 of IBC, 2016 by M/s Vedika Steels Private Limited (Under CIRP represented by it Resolution Professional) against M/s Adarsh Global Traders & Services Pvt Ltd for a claim of an amount of Rs. 8,98,91,694/-
Notices to the Respondent were sent on various occasions viz., 03.06.2019 and 25.06.2019. Notice intimating next date of hearing for appearance and for making submissions was also effected by way of paper publication and proof of the same was filed by the Petitioner on 31.07.2019. Notice to the Respondent was held sufficient and Corporate Debtor was set as Ex-parte on 31.07.2019.
Heard Counsel for the Operational Creditor and perused the record.
On perusal of the entire documents filed by the Petitioner, it is observed that the petitioner has only relied upon Ledger A/c Statement of the Respondent in the books of Petitioner. The Operational Creditor has failed to prove its case by enclosing any invoices, bills of purchase or any other acknowledgment from the Corporate Debtor. The documents enclosed along with the Application nowhere reflect as to how the debt has accrued.
It is further observed by this Adjudicating Authority that an Application bearing IA No. 323/2019 in CP(IB) No. 278/7/HDB/2018 has been preferred by RP appointed in the said matter U/s 43, 44 & 66 of the IB Code, 2016 alleging that there were certain fraudulent transactions and seeking to direct the Respondents therein to repay an amount of Rs. 15,73,15,38,783/-(Rupees One Thousand Five Hundred and Seventy Three Crores Fifteen Lakhs Thirty Eight Thousand Seven Hundred and Eighty three only) In the above said Application, the Operational Creditor and the Corporate Debtor herein are arrayed as Respondent No. 31 and Respondent No.11 respectively, against whom various allegations are raised and various prayers are sought and the same is pending for Adjudication. However, this Adjudicating Authority feels it inappropriate to discuss the same in detail at this juncture as it is not required to adjudicate the instant Application.
In view of the above discussion, the present Application is rejected on following grounds:
That the Operational Creditor herein has failed to furnish the invoice/purchase order or any purchase bills for which the said operational debt became due and payable by the Corporate Debtor. ii. That the Petitioner has failed to furnish any independent evidence to show the existence of Operational Debt except a self-serving copy of ledger Accounts of the Corporate Debtor in its own books. Even the said copy of ledger account is not very clear and not indicative of the real nature of transactions and raises many doubts about its veracity. iii. That the Operational Creditor has failed in providing any single documentary evidence issued by the Corporate Debtor, acknowledging its liability. It has failed to establish any business transaction between the parties or any business relationship between the Operational Creditor and the Corporate Debtor. iv. That the Operational Creditor has also failed in furnishing a copy of Certificate from the Financial Institution maintaining the accounts of the Operational Creditor confirming that there is no payment of an unpaid operational debt by the Corporate Debtor.
In view of the aforesaid, the said Application bearing CP(IB) No. 350/9/HDB/2019 is hereby rejected.
No order as to costs.