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TMI Blog2019 (5) TMI 330X X X X Extracts X X X X X X X X Extracts X X X X ..... Rajesh Kumar Agarwal is facing any disciplinary enquiry at present. Since the application filed by the Financial Creditor is defect free. 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. Divine Alloys Power Co. Ltd. is hereby admitted - moratorium and public announcement in accordance with Sections 13 and 15 of the IBC, 2016 declared. - CP(IB) No. 1412/KB/2018 - - - Dated:- 7-3-2019 - SHRI M.B. GOSAVI, MEMBER (JUDICIAL) For The Financial Creditor : Ms. Aparajita Rao Advocate And Ms. Pallavi Gandhi, Advs. For The Corporate Debtor : Ms. Priyanka K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on the Corporate Debtor. They appeared through one of directors Mr. Rajesh Pandey. ld. Counsel Ms. Priyanka-Kundu appeared for the Corporate Debtor and made a submission that Corporate Debtor does not wish to file any affidavit-in-reply and this Adjudicating Authority may pass necessary Orders. 5. I have gone through the record and proceeding. I heard ld. Counsel for the Financial Creditor, Ms. Aparajita Rao. 6. Financial Creditor produced on record agreement of restructuring of the loan of the Corporate Debtor (at page 60). Financial Creditor also produced copy of Balance Sheet of the Corporate Debtor as filed with Registrar of Companies for the year 2018. Perusal of it shows that the Corporate Debtor admitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Insolvency Resolution Process and call for the submission of claims under Section 15. The public announcement referred to in clause (b) of sub-section (1) of Section 15 of Insolvency Bankruptcy Code, 2016 shall be made immediately. (iv) Moratorium under Section 14 of the Insolvency Bankruptcy Code, 2016 prohibits the following: (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ajesh Kumar Agarwal, IP Registration No. IBBI/IPA-001/IP-P01023/2017-2018/11722, residing at 1, Ganesh Chandra Avenue, 3rd Floor, Room No. 301, Kolkata-700013, E-mail ID: [email protected] is appointed as Resolution Professional for ascertaining the particulars of creditors and convening a Committee of Creditors for evolving a resolution plan. (xi) The Financial Creditor to pay sum of ₹ 50,000/- (Rupees Fifty Thousand Only) to IRP as advance fees as per Regulation 33(2) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulation 2016 which shall be adjusted from final bill. (xii) The Resolution Professional shall conduct CIRP in time bound manner as per Regulation 40A of IBBI (Insolvency Re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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