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TMI Blog2019 (2) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... s are under occupation or in possession of the ‘Corporate Debtor’. The Government of India by its letter dated 13th April, 2017 issued show cause notice to the ‘Corporate Debtor’ before issuance of the termination letter dated 30th December, 2017 i.e. much prior to initiation of the ‘Corporate Insolvency Resolution Process’ (18th July, 2017). The ‘Corporate Debtor’ having failed to act in terms with the said show cause. If the order of cancellation have been passed by the Government of India on 30th December, 2017, it cannot be held to be in violation of Section 14(1)(d) of the ‘I&B Code’. In view of the aforesaid findings, no interference is called for against the impugned order dated 16th January, 2018. The appeal is dismissed. Inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /NA dated 23rd March, 2015 was issued in favour of the Corporate Debtor in respect of Gare Palma IV/7 Coal Mine at Karwahi, Teh, Tomnar, Dist-Raigad, Chattisgarh (hereinafter referred as the Mine ). 3. After initiation of the Corporate Insolvency Resolution Process , the Government of India, issued notice dated 30th December, 2017 for termination of Coal Mines Development and Production Agreement dated 2nd March, 2015 and vesting order 104/18/2015/NA dated 23rd March, 2015. 4. The Resolution Professional of Monnet Ispat Energy Ltd. challenged the letter of termination dated 30th December, 2017 issued by the Government of India, Ministry of Coal, on the ground that it is against the provisions of Section 14 of the I B Code ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appointed under Section 6 of the Coal Mines (Special Provisions) Ordinance, 2014) read with Coal Mines (Special Provisions) second Ordinance, 2014 (the Nominated Authority ). 2. Monnet Ispat Energy Limited incorporated in India under the Companies Act, 1956 with corporate identify number L02710CT1990PLC009826, whose registered office is at Monnet Marg, Mandir Hasaud, Raipur, Chattisgarh- 492101, India and principal place of business is at Monnet House, 11 Masjid Moth, Greater Kailash Part II, New Delhi- 110048, India (the Successful Bidder ). Xxx xxx xxx 5.3. The Mining Lease 5.3.1. Pursuant to Section 8(4)(b) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for one or other plant of the Corporate Debtor but there is nothing on the record to suggest that mining lease has been issued by the State Government(s) in terms of the provisions as mentioned in the Coal Mines Development and Production Agreement dated 2nd March, 2015. 11. It is not being made clear whether in terms of the agreement total amount has been paid by the Corporate Debtor or not. 12. Section 14 of the I B Code relates to Moratorium . Clause (d) of sub-section (1) of Section 14 reads as follows: 14. Moratorium .-( 1) Subject to provisions of sub-sections (2) and (3), on the insolvency commencement date, the Adjudicating Authority shall by order declare moratorium for prohibiting all of the following, na ..... X X X X Extracts X X X X X X X X Extracts X X X X
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