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Tribunals and CommissionsDivision Bench(2022) 10 NCLT CK 0374

Sangam (India) Limited vs M/s Hari Govind Texfab (India) Private Limited

National Company Law Tribunal · Decided on 17 October 2022

HON’BLE JUDGES
Bachu Venkat Balaram Das, Member (J) · L. N. Gupta, Member (T)
RESULT
Allowed
CASE NUMBER
(IB)-194(ND)2022

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Judgment

169 paragraphs · 2,610 words

PER SHRI L. N. GUPTA, MEMBER (T)

M/s. Sangam (India) Limited through its Authorized Representative Mr. Anil Kumar Jain (for brevity, the ‘Applicant/ Operational Creditor’) has filed the present application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity, the ‘IBC, 2016’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate the Corporate Insolvency Resolution Process against M/s. Hari Govind Texfab (India) Private Limited (for brevity, the ‘Respondent’).

2.

The Respondent namely M/s. Hari Govind Texfab (India) Private Limited is a Company incorporated on 29.09.2008 with CIN U17120DL2008PTC183817 under the provisions of the erstwhile Companies Act, 1956 having its registered Office at Shop No. 10, 911241, Plot No. 26, Ram Bazar, Subhash Road, South Gandhi Nagar, New Delhi- 110031, which is within the territorial jurisdiction of this Bench. The Authorized Share Capital of the Corporate Debtor is Rs. 50,00,000/- and Paid-up Share Capital is Rs. 44,51,000/- as per the Master Data of the Respondent.

3.

It is submitted by the Applicant that it is the producer of PV dyed yarn, cotton and OE yarn and ready to stitch fabrics. In the year 2008, the Respondent approached the Applicant for the supply of Denim Fabric. Accordingly, the Applicant and Respondent entered into a formal understanding, whereby the Respondent agreed to make timely payments against the invoices raised by the Applicant with the credit period of 45 days from the date of invoice and pay interest @ 15% per annum in case of default.

4.

That during the period from 03.10.2008 to 14.06.2019, the Applicant supplied Denim Fabric to the Respondent of the value of Rs.22,86,55,497/-, against which the Respondent paid an amount of Rs.20,44,15,371/- on running account basis. Thus, there is an outstanding balance of Rs.2,42,40,126/- against the Respondent, which is due and payable. In support of its contention, the Applicant has enclosed the computation of dues/list of invoices, as per which the date of first invoice is 20.05.2013 and the date of last invoice is 26.12.2015. It has further added that the last payment received from the Respondent towards the Denim Fabric supplied to them is of Rs.3,50,000/- made through RTGS on 14.06.2019.

5.

Despite regular follow up, the Respondent did not release the balance payment against the invoices. The particulars of the Operational Debt claimed by the Applicant including the total amount of debt, default and the date of default are mentioned in Part IV of the application, which is reproduced overleaf, for the sake of convenience :

PART-IV

PARTICULARS OF OPERATIONAL DEBT

1.TOTAL AMOUNT OF DEBT, DETAILS OF TRANSACTIONS ON ACCOUNT OF WHICH FELL DUE AND THE DATE FROM WHICH SUCH DEBT FELL DUE1. Total Amount of Debt: Rs. 5,82,09,276/- (Rupees Five Crore Eighty-Two Lac Nine Thousand Two Hundred and Seventy-Six Only) as on 30.09.2021 alongwith further interest @ 15% per annum on the Invoices from 01.10.2021 until full payment/ realization thereof.
Sr. No.Particulars of Debt DuesAmount (Rs.)
(a)Principal in respect of sale of Denim Fabric as per unpaid outstanding Invoices.2,42,40,126/-
(b)Accrued Interest in respect of sale of Denim Fabric from the Default date (after 45 days credit period) of respective unpaid outstanding Invoices till 30/09/20212,63,71,281/-
(c)Old Interest pending and75,97,869/-
Accrued in respect of sale of Denim Fabric from the default date (after 45 days credit period) up to the date of payment of such Invoices.
Total5,82,09,276/-
2. Details of transaction:
1. Operational Creditor is one of the foremost producers in PV dyed yarn, cotton and OE yarn and also ready to stitch fabrics. With such repute, our client ensures strict compliance of business ethics and ensures utmost dedication, sincerity and transparency in conduct of all its business pursuits. In the year 2008, the Corporate Debtor approached the Operational Creditor for the supply of Denim Fabric.
2. As per the customs and usage of the business, the Operational Creditor and Corporate Debtor entered into a formal understanding wherein the Corporate Debtor agreed to make timely payments against the invoices raised by the Operational creditor within the credit period of 45 days from the date of respective invoice and to pay interest @ 15% per annum in default of making the payment within said credit period. That Operational Creditor and the entire team with its utmost dedication and hard work had been providing services to the Corporate Debtor. The copies of outstanding invoices raised by the Operational Creditor from 20.05.2013

to 26.12.2015 has been annexed herein and marked as ANNEXURE- E.

3.

That Corporate Debtor from the inception of this business relationship had started to breach the terms and conditions of the formal understanding entered into and showed reluctance in making payment. To keep the business relations cordial Operational Creditor herein on several occasions accommodated Corporate Debtor's reluctance but CD mistaken OC's accommodative behaviour to be a usual practice and made habitual and routine delays in clearing the invoices by not making payments to Operational Creditor.

4.

That since 03.10.2008 till 14.06.2019, Operational Creditor had supplied Denim Fabric of Rs. 22,86,55,497/- (Rupees Twenty-Two Crore Eighty-Six Lac Fifty-Five Thousand Four Hundred and Ninety-Seven Only) out of which the Corporate Debtor has paid to the tune of Rs. 20,44,15,371/- (Rupees Twenty Crore Forty-Four Lac Fifteen Thousand Three Hundred and Seventy-One Only), the same was paid on running account basis and not as per specific invoices. The outstanding balance of Rs. 2,42,40,126/- (Rupees Two Crore Forty-Two Lac Forty Thousand One Hundred and Twenty-Six Only) is due and payable. The copy of the Ledger Statement of Corporate Debtor as maintained in the books of Operational Creditor is annexed herewith and marked as ANNEXURE- F.

5.

That the last payment made by the Corporate Debtor toward the Denim Fabric supplied to them by the Operational Creditor was Rs. 3,50,000/-, the same was made through RTGS on 14.06.2019 as is evident from the Ledger Statement. 6. That pursuant to this, Operational Creditor running from pillar to post for the release of payment. That at several occasions the authorized representative and other officials of Operational Creditor tried to arrange meetings with the officials of the Corporate Debtor with the hope to settle the account, but all went in vain. That Corporate Debtor by not releasing the payments against the invoices rose is clearly violating the terms of the formal arrangement and as such the Operational Creditor can exercise its right to take formal action against the Corporate Debtor. 7. The Operational Creditor has sent a Statutory Demand Notice dated 28.10.2021 under Section 8 of the IB code, 2016, the same has been delivered upon the Corporate Debtor, however, the same was not replied to within 10 days of the receipt of the Demand Notice and has not been replied till date. The copy of Demand Notice dated 28.10.2021 along with postal receipts and proof of delivery has been annexed herein and marked as ANNEXURE- I (COLLY) 3. Date from which such debt fell due: The Corporate Debtor failed and neglected to make the payments of the Invoices within the credit period of 45 days in respect of the sale of Denim Fabric from the date of respective Invoices in respect thereof, the details whereof are set out in Computation Tables annexed hereto as Annexures – A-3. The details of the dates on which such Debt fell due are given in the Column titled as “Debt Fell Due / Default Date” in the Computation Tables annexed hereto as ANNEXURES – G. 2AMOUNT CLAIMED TO BE IN DEFAULT AND THE DATE ON WHICH DEFAULT OCCURRED (ATTACH THE WORKING FOR COMPUTATION OF AMOUNT AND DAYS OF DEFAULT IN TABULAR FORM)Amount of Debt: Rs. 5,82,09,276/- Due Date from which such debt fell due: The Corporate Debtor failed and neglected to make the payments of the Invoices within the credit period of 45 days in respect of the sale of Denim Fabric from the date of respective Invoices in respect thereof. The details of the dates on which such Debt fell due are given in the Column titled as “Debt Fell Due / Default Date” in the Computation Tables annexed hereto as Annexures – G.

6.

From the perusal of the Part IV of the Application, it is observed that the Applicant has claimed an amount of Rs. 5,82,09,276/- as unpaid operational debt.

7.

We observe from the records that during the course of hearing on 08.03.2022, the Applicant was directed to bring on record, the date of default, affidavit under Section 9(3)(b) of IBC, 2016 and affidavit under Section 9(3)(c) of IBC, 2016. Subsequently, the Applicant filed the compliance Affidavit dated 11.04.2022, wherein the Applicant has indicated that the debt fell due on 15.06.2019.

8.

It is stated by the Applicant that since the Respondent did not make the due payment of its operational debt, it had issued a Demand Notice dated 28.10.2021 under Section 8 of IBC 2016 at the registered office of the Respondent, which was served to the Respondent via Speed Post and Courier. The Tracking Report of the Courier has been placed at page no. 222 of the application. The Applicant has also filed the Affidavit under Section 9(3)(b) of 2016 stating that no notice of dispute has been given by the Respondent and also, there is no pre-existing dispute.

9.

On issuance of notice, the Respondent neither appeared nor filed any reply. Since, despite notice, no one appeared on behalf of the Respondent, it was proceeded ex-parte vide order dated 24.08.2022.

10.

We have heard the Applicant and perused the documents placed on record. Before examining the application on merit, we would like to examine whether the present application is filed within the period of limitation?

11.

While perusing the record, we notice that vide Affidavit dated 11.04.2022, the Applicant has relied on 15.06.2019 as the date of default and in this context, it has relied on Annexure G of the application. Therefore, we would like to refer to the Annexure G, which is reproduced overleaf :

Sangam (India) Ltd. - Denim Division COMPUTATION OF DUES - M/s HARI GOVIND TEXFAB (INDIA) PVT LTD., DELHI

UPTO 30-09-2021

S. No.Invoice No.Invoice DateInvoice AmountBalance AmountDebit Fell Due/Default Date (Credit Period - 45 Days)Interest upto 30.09.2021Delay DaysIntl. Amount @15% Per Annum (Rs.)
190786341620-05-20132,62,165.001,03,022.0004-07-201330-09-20213010127437
290786355431-05-20131,74,344.001,74,344.0015-07-201330-09-20212999214873
390786355531-05-20132,21,966.002,21,966.0015-07-201330-09-20212999273565
490786371619-06-20131,84,816.001,84,816.0003-08-201330-09-20212980226336
590786381630-06-20131,81,480.001,81,480.0014-08-201330-09-20212969221430
690786391012-07-20132,97,171.002,97,171.0026-08-201330-09-20212957361124
790786417924-08-20133,81,676.003,81,676.0008-10-201330-09-20212914457070
890786440726-09-20134,45,501.004,45,501.0010-11-201330-09-20212881527461
990786453411-10-20134,57,126.004,57,126.0025-11-201330-09-20212866538407
1090786464725-10-20131,05,622.001,05,622.0009-12-201330-09-20212852123795
1190692235925-10-20131,96,607.001,96,607.0009-12-201330-09-20212852230434
1290692236025-10-20132,72,394.002,72,394.0009-12-201330-09-20212852319261
1390692251131-10-20132,85,410.002,85,410.0015-12-201330-09-20212846333812
1490692251231-10-20132,84,184.002,84,184.0015-12-201330-09-20212846332378
1590692259807-11-20132,29,785.002,29,785.0022-12-201330-09-20212839268093
-990692355623-12-20133,56,131.003,56,131.0006-02-201430-09-20212793408770
1790692357023-12-20133,97,026.003,97,026.0006-02-201430-09-20212793455710
1890692382006-01-20143,05,172.003,05,172.0020-02-201430-09-20212779348523
1990786545007-01-20143,29,850.003,29,850.0021-02-201430-09-20212778376571
2090786545107-01-20143,81,708.003,81,708.0021-02-201430-09-20212778435775
2190786548110-01-20143,19,017.003,19,017.0024-02-201430-09-20212775363810
2290786548911-01-20142,90,655.002,90,655.0025-02-201430-09-20212774331347
2390692429731-01-20143,16,719.003,16,719.0017-03-201430-09-20212754358456
2490692432231-01-20142,21,662.002,21,662.0017-03-201430-09-20212754250873
2590786589414-02-20141,25,477.001,25,477.0031-03-201430-09-20212740141291
2690692460718-02-20143,21,557.003,21,557.0004-04-201430-09-20212736361553
2790692467220-02-201483,886.0083,886.0006-04-201430-09-2021273494251
2890692467320-02-20143,23,133.003,23,133.0006-04-201430-09-20212734363060
2990692477124-02-20143,57,334.003,57,334.0010-04-201430-09-20212730400899
3090692483226-02-20143,65,535.003,65,535.0012-04-201430-09-20212728409800
3190692489728-02-20142,14,091.002,14,091.0014-04-201430-09-20212726239841
3290786607228-02-20143,61,903.003,61,903.0014-04-201430-09-20212726405431
3390786610504-03-20143,60,731.003,60,731.0018-04-201430-09-20212722403525
3490786618013-03-20143,15,997.003,15,997.0027-04-201430-09-20212713352315
3590692560204-04-20143,13,706.003,13,706.0019-05-201430-09-20212691346924
3690692567809-04-20142,38,497.002,38,497.0024-05-201430-09-20212686263261
3790692567909-04-201472,282.0072,282.0024-05-201430-09-2021268679787
3890786653309-04-201429,163.0029,163.0024-05-201430-09-2021268632191
3990692601624-04-20142,71,222.002,71,222.0008-06-201430-09-20212671297713
4090692601724-04-20142,70,584.002,70,584.0008-06-201430-09-20212671297012
4190692674627-05-20142,38,705.002,38,705.0011-07-201430-09-20212638258782
4290692674727-05-20142,53,204.002,53,204.0011-07-201430-09-20212638274501
4390786722027-05-20142,49,442.002,49,442.0011-07-201430-09-20212638270422
4490786722227-05-201477,068.0077,068.0011-07-201430-09-2021263883550
4590786722327-05-20142,70,584.002,70,584.0011-07-201430-09-20212638293343
4690786722427-05-20142,63,154.002,63,154.0011-07-201430-09-20212638285288
4790786722527-05-20141,56,576.001,56,576.0011-07-201430-09-20212638169746
4890692707312-06-20143,38,503.003,38,503.0027-07-201430-09-20212622364749
S. No.Invoice No.Invoice DateInvoice AmountBalance AmountDebit Fell Due/Default Date (Credit Period - 45 Days)Interest upto 30.09.2021Delay DaysIntt. Amount @15% Per Annum (Rs.)
4990692707512-06-20142,70,452.002,70,452.0027-07-201430-09-20212622291421
5090692707612-06-20142,66,141.002,66,141.0027-07-201430-09-20212622286776
5190692727820-06-20141,06,720.001,06,720.0004-08-201430-09-20212614114644
5290692744327-06-20143,20,525.003,20,525.0011-08-201430-09-20212607343401
5390692745727-06-20142,63,217.002,63,217.0011-08-201430-09-20212607282003
5490692745827-06-20142,18,611.002,18,611.0011-08-201430-09-20212607234213
5590692745927-06-20141,76,564.001,76,564.0011-08-201430-09-20212607189165
5690692753129-06-201455,009.0055,009.0013-08-201430-09-2021260558890
5790692753229-06-20141,01,523.001,01,523.0013-08-201430-09-20212605108685
5890692757129-06-20141,34,814.001,34,814.0013-08-201430-09-20212605144325
5990692779311-07-20143,69,717.003,69,717.0025-08-201430-09-20212593393977
6090692803622-07-20142,99,755.002,99,755.0005-09-201430-09-20212582318069
6190692803722-07-20142,96,646.002,96,646.0005-09-201430-09-20212582314770
6290692803922-07-20142,99,180.002,99,180.0005-09-201430-09-20212582317459
6390692807723-07-20141,03,985.001,03,985.0006-09-201430-09-20212581110295
6490692842311-08-20141,90,757.001,90,757.0025-09-201430-09-20212562200844
6590786836911-08-201432,801.0032,801.0025-09-201430-09-2021256234535
6690786838212-08-20142,68,885.002,68,885.0026-09-201430-09-20212561282992
6790786849822-08-20142,66,975.002,66,975.0006-10-201430-09-20212551279885
6890786849922-08-20142,73,557.002,73,557.0006-10-201430-09-20212551286785
6990692879528-08-20141,76,651.001,76,651.0012-10-201430-09-20212545184758
7090692879628-08-20141,97,265.001,97,265.0012-10-201430-09-20212545206318
7190692939926-09-20141,77,091.001,77,091.0010-11-201430-09-20212516183107
7290692940026-09-20141,93,733.001,93,733.0010-11-201430-09-20212516200315
7390786905326-09-20141,87,698.001,87,698.0010-11-201430-09-20212516194075
7490692949730-09-20142,34,347.002,34,347.0014-11-201430-09-20212512241923
7590692949830-09-20142,48,663.002,48,663.0014-11-201430-09-20212512256702
7690692949930-09-20142,35,078.002,35,078.0014-11-201430-09-20212512242678
7790692961611-10-20141,71,659.001,71,659.0025-11-201430-09-20212501176439
7890692961711-10-20142,55,192.002,55,192.0025-11-201430-09-20212501262298
7990692961911-10-201461,583.0061,583.0025-11-201430-09-2021250163296
8090786922011-10-201476,609.0076,609.0025-11-201430-09-2021250178739
8190786922111-10-201490,856.0090,856.0025-11-201430-09-2021250193383
8290786922711-10-201467,352.0067,352.0025-11-201430-09-2021250169225
8390692970715-10-20141,91,801.001,91,801.0029-11-201430-09-20212497196819
8490692970815-10-20141,90,161.001,90,161.0029-11-201430-09-20212497195136
8590692970915-10-20141,39,061.001,39,061.0029-11-201430-09-20212497142699
8690692971216-10-20141,60,230.001,60,230.0030-11-201430-09-20212496164356
8790692971316-10-20141,75,012.001,75,012.0030-11-201430-09-20212496179519
8890692971416-10-20141,35,452.001,35,452.0030-11-201430-09-20212496138940
8990692971516-10-201492,617.0092,617.0030-11-201430-09-2021249695002
9090692971616-10-201436,825.0036,825.0030-11-201430-09-2021249637773
9190692992028-10-20143,02,977.003,02,977.0012-12-201430-09-20212484309286
9290693058327-11-20142,37,435.002,37,435.0011-01-201530-09-20212454239452
9390786981127-11-20142,19,979.002,19,979.0011-01-201530-09-20212454221847
9490693062828-11-20142,56,024.002,56,024.0012-01-201530-09-20212453258093
9590693062928-11-20142,47,702.002,47,702.0012-01-201530-09-20212453249704
9690693063028-11-20142,58,763.002,58,763.0012-01-201530-09-20212453260854
9790693063128-11-20142,35,414.002,35,414.0012-01-201530-09-20212453237317
9890693063228-11-20143,08,342.003,08,342.0012-01-201530-09-20212453310834
9990693115324-12-20141,42,450.001,42,450.0007-02-201530-09-20212427142079
10090693115624-12-20141,48,159.001,48,159.0007-02-201530-09-20212427147773
S. No.Invoice No.Invoice DateInvoice AmountBalance AmountDebit Fell Due/Default Date (Credit Period - 45 Days)Interest upto 30.09.2021Delay DaysIntt. Amount @15% Per Annum (Rs.)
10190693115724-12-20141,49,261.001,49,261.0007-02-201530-09-20212427148873
10290693117725-12-20141,54,988.001,54,988.0008-02-201530-09-20212426154521
10390693118425-12-20141,53,593.001,53,593.0008-02-201530-09-20212426153130
10490693121427-12-20142,19,484.002,19,484.0010-02-201530-09-20212424218642
10590693121527-12-20142,47,049.002,47,049.0010-02-201530-09-20212424246101
10690693149015-01-20152,16,124.002,16,124.0001-03-201530-09-20212405213607
10790787036815-01-20151,18,723.001,18,723.0001-03-201530-09-20212405117341
10890693961824-12-201582,019.0082,019.0007-02-201630-09-2021206269503
10990693973026-12-20151,19,492.001,19,492.0009-02-201630-09-20212060101159
30-09-2021Total2,42,40,126.002,63,71,281

Summary

Amount (Rs.)

Total Principal Outstanding 2,42,40,126

ADD: Interest @ 15% P.A. After 45 days of respective invoice upto 30.09.2021 2,63,71,281

ADD: Old Interest @ 15% P.A. for delayed payments upto 30.09.2021 75,97,869

Total Overdue Outstanding as on 30.09.2021 5,82,09,276

12.

From the perusal of the Statement of Computation of Dues (Annexure 'G') reproduced above, it is observed that the first invoice was raised by the Applicant on 20.05.2013 and the last invoice dated 26.12.2015 became due and payable on 09.02.2016.

13.

Further, the Applicant, vide its Additional Affidavit dated 17.05.2022, has pleaded the following :

i)

Payment of an amount of Rs.2,11,602/- was received from the Respondent on 29.12.2015.

ii) Payments of Rs.73,167/-, Rs. 60,524, Rs.6,082/- and Rs.46,216/- were received from the Respondent on 18.01.2016.

iii) Payment of Rs.5,00,000/- was received through RTGS from the Respondent on 25.04.2018.

iv) Further, subsequent payments of Rs.2,50,000/-, Rs.2,50,000/-, Rs.2,50,000/-, and Rs.3,00,000/- were received from the Respondent on 16.05.2019.

Applicant has also placed on record its Bank Statement in support of the receipt of the said part payments against its dues from the Respondent.

14.

From the details in para 13 above, it is observed that the part payments were received by the Applicant between 29.12.2015 and 16.05.2019. The First invoice became due and payable on 04.07.2013. Therefore, the payment made by the Respondent on 29.12.2015 shall extend the limitation till 28.12.2018. Similarly, the payments made by the Respondent to the Applicant on 25.04.2018, then again on 16.05.2019 shall extend the period of limitation till 15.05.2022.

15.

Since the present Petition is filed on 21.02.2022, which is prior to the expiry of limitation period i.e., 15.05.2022, we are of the view that the present Petition is within the period of Limitation.

16.

As already observed, since the Respondent neither appeared nor filed any reply, it was proceeded ex-parte. In the circumstances, it is presumed it has nothing to say in the matter. As regards merits of the case, the Applicant has been able to establish the default committed by the Respondent.

17.

In the circumstances, the Petition filed under Section 9 fulfills all the requirements of law. Therefore, the petition is admitted in terms of Section 9(5) of the IBC. Accordingly, the CIRP is initiated and moratorium is declared in terms of Section 14 of the Code. As a necessary consequence of the moratorium in terms of Section 14(1) (a), (b), (c) & (d), the following prohibitions are imposed, which must be followed by all and sundry:

“(a)

The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority;

(b)

Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein;

(c)

Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002;

(d)

The recovery of any property by an owner or lessor, where such property is occupied by or in the possession of the corporate debtor.”

18.

As proposed by the Operational Creditor, this Bench appoints Mr. Harish Taneja (Email id: [email protected]) as IRP having Registration No. IBBI/IPA-002/IP-P00088/2017-18/10229 subject to the condition that no disciplinary proceedings are pending against the IRP so named and disclosures as required under IBBI Regulations, 2016 are made by him within a period of one week from this Order. This Adjudicating Authority orders that :

“Mr. Harish Taneja as IRP having Registration No. IBBI/IPA-002/IP-P00088/2017-18/10229, is directed to take charge of the CIRP of the Corporate Debtor with immediate effect. The Court Officer will inform the IRP so appointed by all modes.”

The IRP is directed to take the steps as mandated under the IBC specifically under Section 15, 17, 18, 20 and 21 of IBC, 2016.

19.

The Operational Creditor is directed to deposit Rs. 2,00,000/- (Two Lakh) only with the IRP to meet the immediate expenses. The amount, however, will be subject to adjustment by the Committee of Creditors as accounted for by Interim Resolution Professional and shall be paid back to the Financial Creditor.

20.

A copy of this Order shall immediately be communicated by the Registry/Court Officer to the Operational Creditor, the Corporate Debtor and the IRP mentioned above. In addition, a copy of the Order shall also be forwarded by the Registry/Court Officer to the IBBI for their records.