Demand Notice by Operational Creditor — Draft

FORM 3
[Under Rule 5(1)(a) of the Insolvency and Bankruptcy (Application to
Adjudicating Authority) Rules, 2016]

DEMAND NOTICE / INVOICE DEMANDING PAYMENT UNDER SECTION 8 OF THE
INSOLVENCY AND BANKRUPTCY CODE, 2016

Date: [DD-MM-YYYY]

To,
[Name of Corporate Debtor]
[Registered Office Address]
CIN: [___]

From,
[Name of Operational Creditor]
[Address]

Subject: Demand notice under Section 8 of the Insolvency and Bankruptcy
Code, 2016 read with Rule 5 of the Adjudicating Authority Rules, 2016.

Sir/Madam,

1. This letter is a demand notice / invoice demanding payment in respect
   of an unpaid operational debt due from [Corporate Debtor] (the
   "Corporate Debtor").

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

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   1. Total amount of debt, with break-up of amount in default:
        Principal        : ₹[amount]
        Interest @ [__]% : ₹[amount]
        TOTAL IN DEFAULT : ₹[amount]
   2. Amount claimed to be in default and date of default:
        ₹[amount] due since [DD-MM-YYYY]
   3. Particulars of the transaction / documents evidencing the debt:
        [Invoice No. ___ dated ___ for supply of goods/services;
         Purchase Order No. ___; Agreement dated ___]
   4. Record of default with information utility (if any): [NeSL ID / NA]
   5. Provision of law/contract under which debt has become due:
        [Sec. ___ / Clause ___ of Agreement dated ___]
   6. List of documents attached to prove the debt and default:
        (i)   Copy of invoice(s)
        (ii)  Copy of purchase order / work order / agreement
        (iii) Ledger / statement of account
        (iv)  Copy of demand/reminder letters, if any
   ----------------------------------------------------------------

3. The Corporate Debtor is required to pay the unpaid operational debt of
   ₹[amount] (in full) within TEN (10) DAYS of the receipt of this notice,
   failing which we shall initiate a corporate insolvency resolution
   process in respect of the Corporate Debtor under Section 9 of the Code.

4. Payment may be made to the following account:
   Beneficiary: [___]  Bank: [___]  A/c No.: [___]  IFSC: [___]

Yours sincerely,

Signature of person authorised to act on behalf of the operational creditor

____________________
[Name]              Position/Designation: [___]
Address: [___]      Email: [___]

Instructions: Please serve a copy of this form on the corporate debtor
at its registered office by registered post / speed post / email, and
retain proof of delivery.