9911796707
TMI Blog2019 (5) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... and it is supported by the documentary evidence placed before this Adjudicating Authority. It is a fit case for admission - moratorium declared. - IBA/128/2019 - - - Dated:- 4-3-2019 - MR B.S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For The Financial Creditor : Ms. T. Geethanjali and Jayesh B. Dolia For The Corporate Debtor : Non-Present ORDER Per : S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) It is a Company Petition filed under Section 7 of the Insolvency Bankruptcy Code ( the Code ) by Indian Bank (in short, Creditor Bank ) for initiation of Corporate Insolvency Resolution Process against the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 4. 07.10.2016 Acknowledgement of Debt-cum-Security for a sum of ₹ 86.82 crores as on 30.09.2016 by the CD and Corporate Guarantors Agreement for Irrevocable of Letter Credit Limits upto ₹ 25 crores Agreements of Guarantee by Jeppiaar Furnace Steels Pvt. Ltd. Jeppiaar Cements Pvt. Ltd. 5. 19.04.2018 Valuation Report of land Building and Plant Machinery 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng with an affidavit. 6. It appears that the Corporate Debtor is deliberately avoiding causing appearance in the matter before this Adjudicating Authority. The Service of notice on the Corporate Debtor is held sufficient and opportunities were given vide orders dated 06.02.2019 and 15.02.2019 but they failed to appear before this Tribunal. 7. The learned Counsel for the Financial Creditor submitted that the Corporate Debtor is unable to pay its debts and therefore he has no other option except approaching this Adjudicating Authority under I B Code seeking an order for commencing the Corporate Insolvency Resolution Process. 8. In view of the reasons aforementioned and the material furnished by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lessor where such property is occupied by or in the possession of the corporate debtor. II. The supply of essential goods or services of the Corporate Debtor 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 may be notified by the Central Government in consultation with any financial sector regulator. IV. That the order of moratorium shall have effect from the date of issue of order till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of section 31 of IBC or passes an order fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
