9911796707
TMI Blog2017 (6) TMI 1129X X X X Extracts X X X X X X X X Extracts X X X X ..... The claim of the Operational Creditor is that Corporate Debtor, namely M/s. Agroh Infrastructure Developer Private Ltd., gave road construction work of Bitumen Road of Magarkhedi-Bamandi, District Barwani, and another road construction work of Bitumen Road of Khandwa-Jhedtalai. The Operational Creditor had completed the above mentioned work in the year 2013 as per the specification given by the Corporate Debtor. The concerned Government Department awarded Corporate Debtor the Completion Certificate. Operational Creditor submitted final bill to the Corporate Debtor for the above mentioned work. 3. According to the Work Agreement for the aforesaid work, there is an outstanding amount of 2,22,00,047/- along with security deposit of Rs. 15,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fidavit as required by clause (b) of sub-section (3) of Section 9; copy of certificate from the financial institution maintaining the accounts of the Operational Creditor; and evidence relating to default. This Adjudicating Authority also directed the Operational Creditor to issue notice of date of hearing to the Corporate Debtor and file proof of service. This Adjudicating Authority has directed to list the matter on 18.5.2017 for hearing before admission. The Operational Creditor filed an Affidavit stating that he tried to service the notice on the Corporate Debtor by hand on 13.5.2017 thrice, but the Manager of the Company refused to accept the notice. Operational Creditor stated in the Affidavit that he sent notice of hearing to the Cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any law for the time being in force and payable to the Central Government, any State Government or any local authority;" 9. In the case on hand, the facts disclose that Operational Creditor was given Work Order for road construction work by the Corporate Debtor. The Operational Creditor completed the road construction work and claimed an amount of Rs. 2,89,46,192. Operational Creditor filed the account copies of the financial institution (Bank) of the Operational Creditor which disclosed that the said amount has not been paid by the Corporate Debtor. 10. In view of the said facts, Petitioner Operational Creditor provided services of construction of road to the Corporate Debtor. Therefore, the amount due or the claim made is in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se on hand, Operational Creditor did not propose a Resolution Professional to act as an Interim Resolution Professional as required by sub-section (4) of Section 9 of the Code. Here, it is pertinent to refer to sub-section (3) of Section 16 of the Code. It says, in an application for corporate insolvency resolution process filed by an operational creditor, if there is no proposal for an interim resolution professional is made, the Adjudicating Authority shall make a reference to the Board, namely Insolvency and Bankruptcy Board of India, for the recommendation of an insolvency professional who may act as an interim resolution professional within ten days from the date of receipt of the reference. Therefore, on the ground that Operational Cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Interim Resolution Professional. But, this Adjudicating Authority is going to appoint Interim Resolution Professional after the same is recommended by the Insolvency and Bankruptcy Board of India under Section 16(4) of the Code. 18. (a) In view of the above discussion, the Petition is admitted. (b) This Adjudicating Authority hereby order reference to Insolvency and Bankruptcy Board of India to recommend the name of Insolvency Professional against whom no disciplinary proceedings are pending to this Authority within 10 (Ten) days from the date of receipt of reference to function as Interim Resolution Professional (c) This Adjudicating Authority hereby declares moratorium under Section 13(1)(a) prohibiting the following as laid down in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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