Balraj Joshi ORDER
Rajasekhar V.K., Member (J)
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 Bharat Pipe Fitting Co. (Operational Creditor), seeking to initiate Corporate Insolvency Resolution Process ("CIRP") against Prowess International Private Limited ("Corporate Debtor").
Submissions on behalf of the Operational Creditor:
3. The case of the Operational Creditor is that pursuant to various purchase orders placed by the Corporate Debtor between 23 July 2013 and 10 October 2015, it had supplied seamless pipes and seamless steel tubes. It was specifically written in the purchase orders that 100% payment will be made by the Corporate Debtor after receipt of the materials within thirty days.
4. During the transportation of the goods to the corporate debtor, the operational creditor had duly raised tax invoice, challan and consignor copy through the transporter, Akal Roadways of 147/1B, Mahatma Gandhi Road, Kolkata - 700007. The materials were duly delivered from time to time and as such the said tax invoice, challan and consignor copy was raised by the operational creditor to the corporate debtor from time to time.
5. The Corporate Debtor had duly issued Form 'C' under Section 3A of the Central Sales Tax confirming that the said sales tax was paid with regard to the seamless pipes and seamless steel tubes supplied to them, which was confirmed by the Corporate Debtor, the corresponding amount along with the tax had been issued by the Corporate Debtor to the Central Sales Tax (CST) authorities.
6. The said goods are originally manufactured and supplied by the principal manufacturer being Maharashtra Seamless Limited, which are imported in standard random length of 4-7 meters.
7. The standard random length of the pipes and t........