9911796707
TMI Blog2017 (4) TMI 1398X X X X Extracts X X X X X X X X Extracts X X X X ..... der on the Corporate Debtor. This Order be communicated to the Financial Creditor as well as Corporate Debtor in terms of section 7 of the Insolvency and Bankruptcy Code, 2016. - Company Petition No.150/2017 - - - Dated:- 20-4-2017 - Shri Vijai Pratap Singh Member (J) And Ms. Manorama Kumari Member (J) Mr. Swatarup Banerjee, Advocate, Mr. Avishek Guha, Advocate, Mr. Avishek Sikdar, Advocate For the petitioner ORDER This application has been filed under section 8 and 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, Prowess International (P) Ltd. on account of default for not making payments of ₹ 45,73,250/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liable to pay the Operational Creditor for the manufacture and supply of the purchase order items. The petitioner has also filed copy of the Board Resolution which is Exhibit A which shows that petitioner no. 1 vide Resolution dated 23.01.2017 unanimously passed resolution to initiate Corporate Insolvency Resolution under Corporate Insolvency and Bankruptcy Code, 2016. The petitioner has also filed bank statements where deposits are made or credits are received by the Applicant/Operational Creditor. The petition has been signed by Ms. Priti Baria, as Company Secretary of Parker Hannifin India Pvt. Ltd., who has been authorised by the Board Resolution to present the petition under the Insolvency and Bankruptcy Code, 2016 for initiating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, it is clear that the Corporate Debtor has committed default for not making payment of debt of ₹ 45,73,250/-. Therefore, the petition is admitted and Shri Arun Kumar Gupta is appointed as Interim Resolution Professional. Moratorium is also declared as per provision of section 14 of the Insolvency Bankruptcy Code, 2016. Direction is also being issued for issuing public announcement in terms of section 15 of Insolvency Bankruptcy Code, 2016. The petitioner is also directed to serve the copy of the order on the Corporate Debtor. This Order be communicated to the Financial Creditor as well as Corporate Debtor in terms of section 7 of the Insolvency and Bankruptcy Code, 2016. List on 28 th April, 2017 for submission of progress r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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