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TMI Blog2017 (4) TMI 1350X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 - MR. RATAKONDA MURALI AND MR. ASHOK KUMAR MISHRA, JJ. For The Applicant : CCI-Legal corporate cognition India ORDER The Petitioner which is operational creditor namely M/s Belthangady Taluk Rubber Grower s Marketing Processing Co-operative Society Limited has filed this Petition stating that the Corporate Debtor Company M/s Falcon Tyres Limited has defaulted in repaying a sum of ₹ 1,18,34,618.66/- and hence this Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 seeking for admission of this petition, declaring moratorium on the Corporate Debtor Company, direction for public announcement of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the outstanding of ₹ 1,18,34,618.66/- and in the event it does not pay within ten days of receipt of notice, the Petitioner would initiate a corporate insolvency resolution process. The said notice was acknowledged by the corporate debtor as evidenced from the postal acknowledgment attached with the application. The operational creditor has filed the statement of bank account from M/s HDFC Bank for the period from 1st September, 2015 to 31st March, 2016 in respect of the outstanding due i.e., ₹ 1,18,34,618.66/- payable by the corporate debtor. The operational creditor has filed a memo before this Bench on 10th March, 2017 enclosing with an affidavit dated 8th March, 2017 executed by the authorised signatory of the operati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or order in any court of law, tribunal, arbitration panel or other authority; transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. ii. That the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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