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TMI Blog2017 (8) TMI 575X X X X Extracts X X X X X X X X Extracts X X X X ..... essional in the Application. Applicant made a request to refer the matter to the Insolvency Board under Section 16 of the Code. Therefore, there is no need to file the Written Communication of the Interim Resolution Professional. It it is a fit case to initiate insolvency resolution process by admitting the Application under Section 9(5)(1) of the Code. In the case on hand, simultaneous with the admission order, this Adjudicating Authority is not going to appoint Interim Resolution Professional because the Applicant did not propose the name 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 Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2015 acknowledged its liability to pay the amount against the above said Invoices with accrued interest. Applicant claimed ₹ 2,25,358/- towards amounts mentioned in the Invoices and ₹ 2,12,713/- towards interest for delayed payment at the rate of 18% p.a. In all, Applicant claimed ₹ 4,38,071/-. 3. Applicant issued legal notice dated 22nd August, 2016 to the Respondent claiming the amount. Again, Applicant issued another legal notice dated 8th September, 2016 claiming the amount as stated above. Applicant issued another legal notice dated 8th December, 2016 claiming the amount as aforesaid. On 16.2.2015, Respondent wrote a letter to Chief Executive Officer of M/s. Beeta Kone Tools acknowledging the liability and seekin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... did not choose to repay the amount due to the Applicant in respect of the goods supplied by the Applicant to the Respondent. Ultimately, Applicant issued demand notice dated 30th March, 2017 in Form 3 as well as in Form 4 attaching the copies of the Invoices to Respondent as required by Section 8 of the Code read with Rule 5 of the Adjudication Rules. The said notice was received by the Respondent on 3rd April, 2017. Applicant filed Affidavit stating that no notice of defence was sent by the Respondent. 8. Applicant also filed copies of Invoices and copies of the Bank statements. 9. The amount due to the Applicant from the Respondent is in respect of supply of goods. The claim made by the Applicant is in respect of provision of goods. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red to in Section 14, to cause a public announcement of the initiation of corporate insolvency resolution and call for submission of claims as provided under Section 15 of the Code. Sub-section (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Resolution Professional. In the case on hand, simultaneous with the admission order, this Adjudicating Authority is not going to appoint Interim Resolution Professional because the Applicant did not propose the name 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. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iv) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. (d) However, the supply of goods and essential services to the corporate debtor shall not be terminated or suspended or interrupted during moratorium period. The moratorium order in respect of (i), (ii), (iii) and (iv) above shall not apply to the transactions notified by the Central Government. 16. This order of moratorium shall be in force from the date of order till the completion of Corporate Insolvency Resolution Process subject to the Proviso under sub-section (4) of Section 14. This Adjudicating Authority shall give separate order for public announcement at the time of appointment of an Inte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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