Demand Notice

BY SPEED POST/Email
To, DATED: 05.10.2017
VISTAR CONSTRUCTION PVT. LTD.

C-23, G.K. ENCLAVE -1 NEW DELHI – 110048
Through its Directors
From,
NARENDER SHARMA,
R/o, HOUSE NO.249
-E GROUND FLOOR,
RAMA MARKET,
MUNIRKA, NEW DELHI-110067
Sub: - Demand notice under Insolvency and Bankruptcy

(Application to Adjudicating authority) Rules, 2016 in
respect of unpaid operational debt due from VISTAR
CONSTRUCTION PVT. LTD.) under the Code.
Dear Madam/Sir,
1. This letter is a demand notice/invoice demanding payment of an

unpaid operational debt due from VISTAR CONSTRUCTION
PVT. LTD.
2. Please find particulars of the unpaid operational debt below:
PARTICULARS OF OPERATIONAL DEBT
1. TOTAL AMOUNT OF DEBT, Rs. 12,22,518 (RUPEES TWELVE LAC
DETAILS OF
TRANSACTIONS ON TWENTY-TWO THOUSAND FIVE
ACCOUNT OF WHICH HUNDRED EIGHTEEN).
DEBT FELL DUE, AND
THE DATE FROM WHICH That Narender Sharma had applied for the post of
SUCH DEBT FELL DUE Civil Engineer in the month of September 2002 in
the company and accordingly interview was held,
subsequently an appointment letter dated
03.10.2002 was issued by the company through
its Managing Director, Mr. Surpreet Suri stating
the confirmation of his appointment in the
company with gross salary of Rs. 1,20,000/-
Annual (One Lac Twenty Thousand Rupees Only).
However, later on it got increased to many folds
and the last drawn salary package of Narender
Sharma was approximately 27 lacs.
That Vistar Construction Pvt. Ltd. is private

limited company registered under the companies
Act 1956 inter-alia engaged in carrying out
business of construction.
That on 27.05.2015 Operational Creditor was

forced to give his resignation and it was told that
company is not able to give him salary.
Accordingly, operational creditor give his
resignation letter and got relieved from his post on
30.05.2015. It is pertinent to mention herein that
a letter detailing, full and final settlement of
Operational Creditor salary account has been
issued by Corporate Debtor, according to which
Operational Creditor is entitled to receive Rs.
12,22,518 (Twelve Lakh Twenty-Two Thousand
Five Hundred Eighteen Only) as on 01.06.2015.
(Copy of Full and Final Settlement Letter is
attached herewith and marked as ANNEXURE
A/)
That as per the full and final settlement letter

Rs. 12,22,518/- (Rupees Twelve Lakhs Twenty-
Two Thousand Five Hundred and Eighteen) is to
be paid by Corporate Debtor to the Operational
Creditor, in respect of his employment in
Corporate Debtor’s company till 30.05.2015.
That the aforesaid amount of Rs. 12,22,518/-
(Rupees Twelve Lakhs Twenty-Two Thousand Five
Hundred and Eighteen Only) has not been paid by
Corporate Debtor to the Operational Creditor, till
date. (Certified Bank statements of last two
years has been attached herewith and marked
as ANNEXURE-A/)
That various Emails and telephonic calls were

made by the operational creditor for the payment
of aforesaid amount of Rs. 12,22,518/- (Rupees
Twelve Lakhs Twenty-Two Thousand Five
Hundred and Eighteen Only) but nothing fruitful
has been done. (Copies of e-mails demanding
operational debt has been attached herewith
and marked as ANNEXURE-A/)
2. AMOUNT CLAIMED TO BE The total liability of VISTAR CONSTRUCTION

IN DEFAULT AND THE PVT. LTD. against the total work has arisen to the
DATE ON WHICH THE tune of Rs. 12,22,518/- as on 30.05.2015.
DEFAULT OCCURRED
(ATTACH THE WORKINGS
FOR COMPUTATION OF
DEFAULT IN TABULAR
FORM)
3. PARTICULARS OF
SECURITY HELD, IF ANY,
THE DATE OF ITS
CREATION, ITS
ESTIMATED VALUE AS
PER THE CREDITOR.
ATTACH A COPY OF A N.A
CERTIFICATE OF
REGISTRATION OF
CHARGE ISSUED BY THE
REGISTRAR OF
COMPANIES (IF THE
CORPORATE DEBTOR IS
A COMPANY)
4. DETAILS OF RETENTION
OF TITLE
ARRANGEMENTS (IF ANY)
IN RESPECT OF GOODS N.A
TO WHICH THE
OPERATIONAL DEBT
REFERS.
5. RECORD OF DEFAULT
WITH THE INFORMATION N.A
UTILITY (IF ANY)
6. PROVISION OF LAW, Indian Contract Act,1872

CONTRACT OR OTHER
The Insolvency and Bankruptcy Code, 2016.
DOCUMENT UNDER
WHICH DEBT HAS
BECOME DUE
7. LIST OF DOCUMENTS i) The copy of full and final settlement statement

ATTACHED TO THIS dated 01.06.2015
APPLICATION IN ORDER ii) The copy of form 16 Part A and B and form 12 BA
TO PROVE THE
EXISTENCE OF
OPERATIONAL DEBT AND
THE AMOUNT IN
DEFAULT
3. If you dispute the existence or amount of unpaid operational debt

(in default) please provide the undersigned, within ten days of the
receipt of this letter, 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 receipt of this letter, 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 Mr. Narender Sharma
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)
6. The undersigned request you to unconditionally repay the

unpaid operational debt (in default) in full within ten days from
the receipt of this letter failing which we shall initiate a corporate
insolvency resolution process in respect of VISTAR
CONSTRUCTION PVT. LTD.
Yours Sincerely,
NARENDER SHARMA,
R/o, HOUSE NO.249
-E GROUND FLOOR,
RAMA MARKET,
MUNIRKA, NEW
DELHI-110067
DATED:

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BY SPEED POST/Email

To, DATED: 05.10.2017

VISTAR CONSTRUCTION PVT. LTD.

Sub: - Demand notice under Insolvency and Bankruptcy

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

That Vistar Construction Pvt. Ltd. is private

That on 27.05.2015 Operational Creditor was

That as per the full and final settlement letter

That various Emails and telephonic calls were

2. AMOUNT CLAIMED TO BE The total liability of VISTAR CONSTRUCTION

6. PROVISION OF LAW, Indian Contract Act,1872

7. LIST OF DOCUMENTS i) The copy of full and final settlement statement

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

6. The undersigned request you to unconditionally repay the

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