9911796707
TMI Blog2019 (4) TMI 1608X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly. - CP /1361/IB/2018 - - - Dated:- 12-3-2019 - MR B. S. V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For The Financial Creditor : P. Vinod and Mrs. G. Anitha, Advocate for India Law LLP For The Corporate Debtor : None-Present on the date of hearing ORDER Per : MR B. S. V. PRAKASH KUMAR, MEMBER (JUDICIAL) It is a Company Petition filed u/s 7 of the Insolvency and Bankruptcy Code, 2016 ( the Code ) by the Financial Creditor on the ground that the Corporate Debtor defaulted in repaying an amount of ₹ 16,20,91,564 as on 03.08.2018, henceforth sought for initiation of Corporate Insolvency Resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor as on 03.08.2018 has become ₹ 16,20,91,564. 4. The Financial Creditor counsel submits that this account has become irregular as on 03.08.2018 and since then the Corporate Debtor failed to repay as per the terms and conditions of the loan agreement. 5. This case was filed before this Bench on 18.09.2018, on receipt of which the Corporate Debtor started appearing before this Bench, in the process of appearing before this Bench, on 04.01.2019, the counsel appeared on behalf of the Corporate Debtor stated that the matter was likely to be settled, therefore, at his request, this matter was posted to 29.01.2019. On 29.01.2019 also, for no reporting from either of the parties stating that settlement happened ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2002; (d) 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 Supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. III. That the provisions of sub-section (1) of Section 14 of IBC shall not apply to such transactions as maybe notified by the Central Government in consultation with any financial sector regulator. IV. That the order of moratorium shall have effect from 12.03.2019 till the completion of the corporate insolvency resolution process or until this Bench approves the resolut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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