FORM 3

DEMAND NOTICE DEMANDING PAYMENT UNDER THE INSOLVENCY

AND BANKRUPTCY CODE,2016
(Under rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016)

DATE: _____.2020

….. Corporate Debtor

E-mail id of Corporate Debtor where this notice is also being sent:

From,

…..Operational Creditor

Subject: Demand notice under Section 8(1) of Insolvency and

Bankruptcy Code, 2016 demanding payment in respect of the unpaid
operational debt due from Ultimate Sun Systems Pvt. Ltd.

Sir,

1. This letter is a demand notice demanding payment of an unpaid

operational debt due from Ultimate Sun Systems Pvt. Ltd.

2. Please find particulars of the unpaid operational debt below:

1. TOTAL AMOUNT OF DEBT, DETAILS OF TRANSACTION ON
ACCOUNT OF WHICH DEBT FELL DUE AND THE DATE FROM WHICH
THE DEBT FELL DUE:
The Corporate Debtor is liable to pay an amount of Rs.
1,88,340.98/- (Rupees One Lakhs, Eighty Eight Thousand, Three
Hundred, Forty and Ninety Eight Paise Only) which is in debt.

That the Operational Creditor is involved in the business rental of

infrastructure and construction material. The Corporate Debtor
had placed work order dated 18.05.2018 for the rental of certain
infrastructure material with the Operational Creditor.

That the Corporate Debtor initially made a payment of Rs.

50,000/- to the Operational Creditor on 18.05.2018. Subsequently
the Corporate Debtor made a payment of Rs. 77,676/- to the
Operational Creditor on 29.05.2018.

That the Operational Creditor raised an Invoice No. 7785 dated

01.06.2018 towards the Corporate Debtor for an amount of Rs.
27,939.36/-.

On 01.07.2018, the Operational Creditor raised another invoice

being Invoice No. 8418 and Invoice No. 8520 dated 01.07.2018
towards the Corporate Debtor for an amount of Rs. 59,000/- and
Rs. 62,587.20/- respectively.
The Operational Creditor raised another invoice being Invoice No.
8714 on 10.07.2018 towards the Corporate Debtor for an amount
of Rs. 16,824.51/-.

On 11.07.2018, the Operational Creditor raised estimate bearing

no. 1778 towards the Corporate Debtor for an amount of Rs.
8496/-.

The Operational Creditor raised another invoice being Invoice No.

9216 dated 01.08.2018 towards the Corporate Debtor for an
amount of Rs. 59,000/-.

On 20.08.2018 and 23.08.2018 because of Credit Note No. 9661

and 9695, an amount of Rs. 19,070.31/- and 16,824.51/- were
deducted respectively from the Ledger Account of the Corporate
Debtor.

The Operational Creditor raised another invoice being Invoice No.

9694 dated 23.08.2018 towards the Corporate Debtor for an
amount of Rs. 16,824.51/-.

The Operational Creditor raised another invoice being Invoice No.

10076 dated 01.09.2018 towards the Corporate Debtor for an
amount of Rs. 59,000/-.

The Corporate Debtor made a payment of Rs. 50,000/- to the

Operational Creditor on 06.09.2018.
The Operational Creditor raised another invoice being Invoice No.
10951 dated 01.10.2018 towards the Corporate Debtor for an
amount of Rs. 59,000/-.

The Operational Creditor raised another invoice being Invoice No.

11448 dated 10.10.2018 towards the Corporate Debtor for an
amount of Rs. 11,419.36/-.

The Operational Creditor raised another invoice being Invoice No.

11757 dated 01.11.2018 towards the Corporate Debtor for an
amount of Rs. 23,600/-.

The Operational Creditor raised another invoice being Invoice No.

12702 dated 01.12.2018 towards the Corporate Debtor for an
amount of Rs. 23,600/-.

The Operational Creditor raised another invoice being Invoice No.

13657 dated 01.01.2019 towards the Corporate Debtor for an
amount of Rs. 23,600/-.

The Operational Creditor raised another invoice being Invoice No.

15078 and 15836 dated 01.02.2019 towards the Corporate Debtor
for an amount of Rs. 23,600/- and Rs. 842.86/- respectively.

On 08.02.2019, the Operational Creditor raised estimate bearing

no. 2649 towards the Corporate Debtor for an amount of Rs.
9,676/-.
On 30.03.2019 because of TDS 18-19 an amount of Rs. 33,098/-
was deducted from the Ledger Account of the Corporate Debtor.

Hence, the Total outstanding became Rs. 1,88,340.98/- (One

Lakhs, Eighty Eight Thousand, Three Hundred, Forty and Ninety
Eight Paise Only) which the Corporate Debtor is liable to pay along
with the interest @ 18 % Per Annum.

Out of the total outstanding amount, the Corporate Debtor partly

paid an amount of Rs. 50,000/- on 18.05.2018, Rs. 77,676/- on
29.05.2018, Rs. 50,000/- on 06/09/2018 and an amount of Rs.
50,000/- on 29.10.2018 in order to discharge its part liability.

Therefore in total, the Corporate Debtor is liable to pay an

amount of Rs. 1,88,340.98/- (One Lakhs, Eighty Eight Thousand,
Three Hundred, Forty and Ninety Eight Paise Only) to the
Operational Creditor as reflected from the Ledger Account
maintained by the Operational Creditor with the Corporate
Debtor.

That the information regarding the outstanding amount due on

the Corporate Debtor has been discussed and communicated by
the Operational Creditor on multiple occasions. It is pertinent to
mention that the outstanding has also been confirmed and
acknowledged by the Corporate Debtor vide its e-mail dated
Tuesday, November 27, 2018 5:43 PM sent to the Operational
Creditor on accounts@ultimatesunsystems.com,
avinash@ultimatesunsystems.com,
 info@ultimatesunsystems.com, nitin@ultimatesunsystems.com.
Despite several constant follow-ups, the Corporate Debtor has
consistently failed and neglected to pay the said outstanding
amount.

That the Operational Creditor has made numerous phone calls

and even sent reminders through e-mails from time to time but of
no results. The Corporate Debtor never raised any dispute and
neither denied for making the outstanding payment to the
Operational Creditor.

That till date, the Corporate Debtor has an outstanding amount of

Rs. 1,88,340.98/- (One Lakhs, Eighty Eight Thousand, Three
Hundred, Forty and Ninety Eight Paise Only) which the Corporate
Debtor is liable to pay along with the interest @ 18% Per Annum
to the Operational Creditor.

2. AMOUNT CLAIMED TO BE IN DEFAULT AND THE DATE ON WHICH

THE DEFAULT OCCURRED:

The Corporate Debtor is liable to pay an amount of Rs.

1,88,340.98/- along with the interest @ 18% Per Annum to the
Operational Creditor. The default occurred on 01.11.2018 when
the ledger account of the Operational Creditor showed difference
of an amount of Rs. 1,16,520.12/- and the default is continuing till
 date as the Corporate Debtor has not made/ cleared its
outstanding payment to the Operational Creditor.

3. PARTICULARS OF SECURITY HELD, IF ANY, THE DATE OF ITS

CREATION, ITS ESTIMATED VALUE AS PER THE CREDITOR. ATTACH
A COPY OF A CERTIFICATE OF REGISTRATION OF CHARGE ISSUED
BY THE REGISTRAR OF COMPANIES (IF THE CORPORATE DEBTOR IS
A COMPANY):
Nil

4. DETAILS OF RETENTION OF TITLE ARRANGEMENTS (IF ANY) IN

RESPECT OF GOODS TO WHICH THE OPERATIONAL DEBT REFERS:
N/A

5. RECORD OF DEFAULT WITH THE INFORMATION UTILITY (IF ANY):

N/A

6. PROVISION OF LAW, CONTRACT OR OTHER DOCUMENT(S) UNDER

WHICH THE DEBT HAS BECOME DUE:
Already stated above.

7. LIST OF DOCUMENTS ATTACHED TO THIS APPLICATION IN ORDER

TO PROVE THE EXISTENCE OF OPERATIONAL DEBT AND THE
AMOUNT IN DEFAULT:
 i. A copy of e-mail dated 27.11.2018 sent by
accounts@ultimatesunsystems.com of the Corporate
Debtor to the Operational Creditor stating and
acknowledged the liability on the part of the Corporate
Debtor.
ii. A copy of security acceptance letter dated 24.01.2019
signed by Corporate Debtor confirming and acknowledged
the liability on the part of the Corporate Debtor.
iii. A copy of Ledger Account Statement of the Operational
Creditor.

3. If you dispute the existence or amount of the unpaid operational

debt (in default), please provide the undersigned within ten days
of the receipt of this notice, of the pendency of the suit or
arbitration proceedings in relation to such dispute filed before
the receipt of this letter/notice.

4. If you believe that the debt has been repaid before the receipt of
this letter, please demonstrate such repayment by sending to us,
within ten days of the receipt of this notice, the following:

(a) An attested copy of the record of electronic transfer of the

unpaid amount from the bank account of the Corporate
Debtor; or
 (b) An attested copy of any record that M/s Youngman India Pvt.
Ltd. has received the payment.

5. The undersigned, hereby, attaches a certificate from an

information utility confirming that no record of a dispute raised
in relation to the relevant operational debt has been filed by any
person at any information utility. (If applicable) - N/A

The undersigned requests you to unconditionally repay the unpaid

operational debt (in default) in full within ten days from the receipt of
this letter/ notice, failing which we shall initiate the corporate
insolvency resolution process in respect of M/s Ultimate Sun Systems
Pvt. Ltd. under instructions from our client.

Signature of the person authorised to act on behalf of the Operational

Creditor