Tanaya Enterprises Pvt. Ltd. (A company incorporated under the provisions of the Companies Act, 1956) Through its Directors Having its office at: F108/109, Ansa Industrial Estate, Sakivihar Road, Sakinaka, Andheri (E) Mumbai 400072 EMail: [email protected], [email protected] ....Respondent Appellant: Mr. Sudhir K Makkar, Sr. Advocate alongwith Mr. Shalabh Singhal and Ms. Saumya Gupta, Advocates. Respondent: Mr. Anant A. Pavgi and Mr. Abhishek Anand, for R1. 2 JUDGEMENT [Per; Shreesha Merla, Member (T)] 1. The Appellant, the Suspended Director of the Corporate Debtor has filed the present Appeal assailing the Impugned Order dated 31.08.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Court No. II) in C.P. (IB) No. 4137/MB/2018, admitting the Application filed by the Respondent 'Operational Creditor' under Section 9 of the Insolvency and Bankruptcy Code, 2016 (In Short 'the IBC'). 2. Learned Adjudicating Authority while admitting the Section 9 Application observed as follows; "14. On going through the submissions made by the Counsel from the both the sides and on perusing the documents produced on record, this Bench takes note of the fact that the six invoices and delivery challan raised by the Petitioner have been duly acknowledged by the Corporate Debtor by putting their stamp. Hence the contention raised by the Corporate Debtor denying and disputing the invoices and delivery challans does not have any foundation. 15. The Petitioner has also duly produced the running books of Account of the Corporate Debtor regarding the transactions and invoices. This shows an outstanding Debt of Rs. 90,49,843/ due from the Corporate Debtor as on 31.0.2018. This clearly shows the amount due from the Corporate Debtor. 16. This Bench on examination, finds that the Demand Notice dated 10.09.2018 has been duly served through registered post by the Petitioner at 604, Kaushal Point, 4th Floor, Behind Uday Cinema, Ghatkopar (W), Mumbai. A proof of delivery by way of acknowledgement card has been attached by the Petitioner with his Petition. That it is the correct address for delivery of Demand Notice is borne out by the fact this address is mentioned as the Registered address of the Corporate Debtor Company even in their Annual Report of 20182019. This Bench, Company Appeal (AT) (Insolvency) No. 1017 of 2020 3 therefore, has no doubt that the Demand Notice was duly served upon the Corporate Debtor and it chose not to contest it. 17. The Petitioner is registered under the MSME Act, 2006. Since the default amount as per the petition is Rs. 90,49,843/ and the Petitioner claimed Rs. 1,77,11,546/ in Demand Notice. The Bench, while not going into the actual calculation of interest, is of the view that on the Principal amount due the petitioner can claim interest on the amount due in terms of Section 16 of MSME Act; "Where any buyer fails to make payment of the amount to the supplier, as required under Section 15, the buyer shall, notwithstanding anything contained in any agreement between the buyer and the supplier or in any law for the time being in force, be liable to pay compound interest with monthly rests to the supplier on that amo