9911796707
TMI Blog2017 (10) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... eckoning from the day this order is passed. We appoint Mr. R. Krishnamurthy, as IRP as proposed by the Operational Creditor. There is no disciplinary proceedings pending against the IRP as evidenced from Form-2 and his name is reflected in IBBI website. The IRP is directed to take charge of the Corporate Debtor's management immediately. He is also directed to cause public announcement as prescribed under Section 15 of the I&B Code, 2016 within three days from the date the copy of this order is received, and call for submissions of claim in the manner as prescribed. We declare the moratorium which shall have effect from the date of this Order till the completion of corporate insolvency resolution process, for the purposes referred to i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the payment of ₹ 16,18,417/-, which is placed at pages 63 to 65 of the typed set of Petition, to which a reply has also been given by the Corporate Debtor on 19.9.2015 admitting the balance amount to the tune of ₹ 9,78,643/- and stated that the outstanding amount will be cleared within 6 months' time, copy of the reply is placed at page 66 of the typed set of Petition. 3. The Operational Creditor submitted that he has supplied the composite pipes to the Corporate Debtor and there are four invoices against which the Corporate Debtor failed to make the payments to the tune of ₹ 16,18,417/-. It is also on record that the Counsel for the Corporate Debtor appeared before this Bench on 3.7.2017 and submitted that ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rium which shall have effect from the date of this Order till the completion of corporate insolvency resolution process, for the purposes referred to in Section 14 of the I B Code, 2016. We order to prohibit all of the following, namely : (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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