9911796707
TMI Blog2017 (11) TMI 1578X X X X Extracts X X X X X X X X Extracts X X X X ..... ook was received by the Corporate Debtor on 30.05.2017. The petition was filed after service of demand notice. However, no caveat was filed by the respondent. The matter was listed today only for passing formal order of appointment of Interim Resolution Professional, The Interim Resolution Professional has already furnished his written communication in Form No. 2 along with the petition as already observed in the order of admission dated 05.07.2017. As per sub-section (1) of Section 16 of the Code, the Adjudicating Authority has to appoint Interim Resolution Professional within 14 days from the date of insolvency commencement date and the date of commencement is the date of admission as per Section 9 of the Code. - CP (IB) NO.31/CHD/HP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Bankruptcy Code, 2016 by the Operational Creditor for initiating insolvency resolution process on account of the default in payment of debt committed by the Corporate Debtor. Notice of hearing was issued to the Corporate Debtor but there was no representation on its behalf when the matter was admitted. The petition was admitted on 05.07.2017 by a detailed order. 4. Now on behalf of the Corporate Debtor, Mr. Jitesh Gupta, Practising Company Secretary submits that the petition having been admitted, time may be granted to the respondent/Corporate Debtor to pay the defaulting amount even by RTGS transfer in the shortest possible period, and seeks an adjournment. It is further submitted that as per record, the notice was served upon the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 9 of the Code. In view of the above, the following directions are issued:- (i) Appoint Mr. Bhupesh Gupta bearing IP Regn. No. IBBI/IPA-002/IP-NO.0030/2016-2017/10067, resident of House No. 2181, Sector 38-C, Chandigarh-160036, email: [email protected] Mobile No.9815605702 as Interim Resolution Professional. (ii) The term of appointment of Mr. Bhupesh Gupta shall be for a period of 30 days from the date of his appointment as Interim Resolution Professional or as may be determined by the committee of creditors whichever is earlier. (iii) In terms of Section 17 of the Code , from the date of his appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eration in accessing books and records as well as assets of the Corporate Debtor . (vi) The Interim Resolution Professional shall cause a public announcement within three days from the date of his deemed appointment i.e. from 11.07.2017 as contemplated under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 of the initiation of the Corporate Insolvency Resolution Process in terms of Section 13(1)(b) of the Code read with Section 15 calling for the submission of claims against Corporate Debtor . It is further directed that the Insolvency Resolution Professional shall positively file a report of events before this Tribunal every 10 days in relation to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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