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TMI Blog2017 (12) TMI 1565X X X X Extracts X X X X X X X X Extracts X X X X ..... ditor has fulfilled all the requirements of law for admission of the Application and has also proposed the name of IRP after obtaining the written consent in Form-2, which is placed at page 16 of the typed set filed with the Application. This Bench is satisfied that the Corporate Debtor has committed default in making payment of the outstanding debt claimed by the Operational Creditor. Application admitted and the commencement of the Corporate Insolvency Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. - Petition Number : CP/625/(IB)/2017 - - - Dated:- 8-12-2017 - Ch. Mohd Sharief Tariq, Member (Judicial) ORDER Ch Mohd Sharief Tariq, 1. Under A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal Creditor from the Corporate Debtor for the period from 05.10.2014 to 05.05.2015 vide bill Nos. 14, 16, 18, 20, 22, 24, 02 and 04, which are placed at pages 46 to 53 of the typed set filed with the Application. The Operational Creditor issued Demand Notice dated 14.09.2017 under Section 8 of the I B Code, 2016 to the Corporate Debtor demanding payment of Lease Rent due and payable by the Corporate Debtor in respect of unpaid operational debt due to it, i.e. ₹ 28,04,553/- with interest @ 18% p.a. The copy of the said Demand Notice dated 14.09.2017 is placed at page 17 of the typed set filed with the Application. 4. After the receipt of the Demand Notice sent by the Operational Creditor, the Corporate Debtor sent Replv dated 27.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs filed before the service of the Demand Notice. 7. The Operational Creditor has fulfilled all the requirements of law for admission of the Application and has also proposed the name of IRP after obtaining the written consent in Form-2, which is placed at page 16 of the typed set filed with the Application. This Bench is satisfied that the Corporate Debtor has committed default in making payment of the outstanding debt claimed by the Operational Creditor. Therefore, CP/625/(IB) /CB/2017 is admitted and the commencement of the Corporate Insolvency Resolution Process is ordered which ordinarily shall get completed within 180 days, reckoning from the day this order is passed.^ 8. Mr. A. Mohan Kumar is appointed as IRP, as has been prop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r where such property is occupied by or in the possession of the corporate debtor. 10. The supply of essential goods or services of the Corporate Debtor shall not be terminated or suspended or interrupted during moratorium period. The provisions of Sub-section (1) of Section 14 shall not apply to such transactions, as notified by the Central Government. 11. The IRP shall comply with the provisions of Sections 13 (2) , 15, 17 18 of the Code. The Directors of the Corporate Debtor, its Promoters or any person associated with the management of the Corporate Debtor are/is directed to extend all assistance and cooperation to the IRP as stipulated under Section 19 for the purpose of discharging his functions under Section 20 of the I B Cod ..... X X X X Extracts X X X X X X X X Extracts X X X X
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