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TMI Blog2018 (2) TMI 445X X X X Extracts X X X X X X X X Extracts X X X X ..... ul For The Corporate Debtor (S) : Proceeded Ex parte ORDER Per : CH MOHD SHARIEF TARIQ, MEMBER (J) 1. Under adjudication is CP/667/(IB)/CB/2017 that has been filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 (in short, 'I&B Code, 2016') r/w the Insolvency & Bankruptcy (Application to Adjudicating Authority Rules, 2016). The prayer made is to admit the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... long with an Affidavit. The service against Corporate Debtor is held sufficient. Therefore, the Corporate Debtor is proceeded ex parte. 3. It has been submitted that the Operational Creditor had provided security services to the Corporate Debtor and maintained a running account in respect of the said transaction. The services rendered by the Operational Creditor were acknowledged by the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016. The Affidavit is placed at pages 28 and 29 of the typed set filed with the Application deposing therein that the Corporate Debtor has not raised any dispute in respect of the outstanding debts. The Bank certificate has also been placed on record at page 67 onwards of the typed set wherein it has been stated that the account has been verified, and as per the submissions of the Counsel for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 14 of the I&B Code, 2016. It is hereby ordered 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t proposed the name of the IRP. Therefore, the Registry is directed to make a reference to the IBBI to recommend the name of the IRP within 10 days of the receipt of the reference. On receiving the recommendation of the IBBI, the Registry is directed to place the matter before this Bench for appointment of the IRP. 10. Accordingly, the Registry is directed to communicate this Order to the Operati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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