9911796707
TMI Blog2019 (4) TMI 1606X X X X Extracts X X X X X X X X Extracts X X X X ..... Venkateshwara Capital Mangement Ltd. is hereby admitted. - CP(IB) No. 1096/KB/2018 - - - Dated:- 5-3-2019 - Shri M. B. Gosavi Member (Judicial) For The Financial Creditor : Kuldip Mathur, Adv. And Krishendu Paul Choudhury, Advocate ORDER Per : Shri M. B. Gosavi Member (Judicial) 1. M/s. Religare Finvest Ltd., the Financial Creditor has filed this application under Section 7 of Insolvency and Bankruptcy Code against M/s. Venkateshwara Capital Management Ltd., the Corporate Debtor to start Corporate Insolvency Resolution Process of the Corporate Debtor as the Corporate Debtor committed default in paying debt of ₹ 22,97,82,021/- (Rupees Twenty Two Crore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation could not be served to the Corporate Debtor by ordinary way and one by registered post ad. The notice came back with postal remark, left . Hence, this Adjudicating Authority directed the applicant to publish the notice in two Newspapers, one in English language Newspaper and other in local language Newspaper having wide circulation in the area where the registered office of the Corporate Debtor is situated. Accordingly, the Financial Creditor published the notice in Newspaper dated 01.11.2018. The notice was also sent to the Corporate Debtor by e-mail. But no one appeared in this proceeding for and on behalf of the Corporate Debtor. Hence, hearing of this application proceeded ex parte against the Corporate Debtor. 5. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Debtor and Corporate Debtor committed default in paying the debt. 10. The Financial Creditor suggested name of Shree Shashi Agarwal - Resolution Professional for appointment of Interim Resolution Professional. There is nothing on record to show that Mr. Shashi Agarwal was facing any disciplinary enquiry. Since the application filed by the Financial Creditor is defect, I admit the same by following order. ORDER (i) The application filed by the Financial Creditor under section 7 of the Insolvency Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. Venkateshwara Capital Mangement Ltd. is hereby admitted. (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e corporate debtor. (v) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated, suspended, or interrupted during moratorium period. (vi) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (vii) The order of moratorium shall have effect from the date of admission till the completion of the corporate insolvency resolution process. (viii) Provided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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